Why NST could be massively undervalued at current prices...., page-12

Yep, have to agree with you prosperity.

You do not, cannot value resource companies as industrials.

the theory goes that PEs work on industrials because the cash flow projects to infinity and they are thus comparable.

miners are each unique as their cash flows are finite, limited by the size of their resource and it's depletion.

Miners are a PV of cash flows proposition only.

As to the concern that some of the mines have 2 years of resources. Recall that Sons of Gualia operated for 20+ years with a pre drilled resource of a few years during the mines life. ( now St Barbara and approaching the end).

so as long as the stope is open it is probably longer than 2 years. The question is how much longer and how far ahead it is economic to drill when you are underground.

i like what is happening to NST and Bb is a mining wizard.

But stop the multiples, it is eroneous.