jbnimble,
The NPV was prepared using a 5% discount rate which is difficult to justify given the generic risks of running a mining venture, or the more specific risks of this operation in BF. Using 10% would lop off a good chunk of that NPV. In our favour is the subsequent success of the deep drilling, beneath Reserves, which suggest M1 will keep giving well beyond 5 or 6yrs.
Add to this, the fact we have moved into the development phase which is inherently risky. Big holders (not necessarily substantial holders) would likely de-risk their exposure both in weight and time held.
Best case scenario for us, imo, is not only for the project to be completed within budget, but more importantly to be completed ahead of schedule. There is a reason we are full steam ahead and that’s because time is risk in BF. I believe the MD has suggested we will get to production ahead of schedule in most recent interview.
Just my opinions.
jbnimble, The NPV was prepared using a 5% discount rate which is...
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