For the past few weeks I have been working on a slide deck to show how one could come up with an approximate value for Santo Tomás. The presentation looks at the approximate resource size, the amount of high grade, the annual mine processing cost/cost per ton, the CAPEX, OPEX, NPV and IRR range, and then finds similar projects to draw comparisons. I look forward to your comments and feedback!
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They own 100% of the project, 100% of the concession, and 86% of the resource. I think, we need to read the fine print on the annual report to understand this. Otherwise you would expect the 14% holders to be matching 14% of the costs.
oupy