long poetic missive, page-11

In theory this is all well and good but unfortunately it doesn't happen.

In theory, the SP should hit the NPV equivalent and then slowly drop to 0 as dividends are paid throughout the life of the mine. This is of course only true if no other discoveries are made.

There is always uncertainty in a project, even when mining, and that's why the SP will always be at a discount to the NPV (even when it is conservative)

Unfortunately stocks aren't fairly valued in today's market.