Did you closely look at the financing T and Cs. They appear to owe about 120koz of gold at settlement of finance as well, so at 1800 usd that is a further $AU280m knocked off the NPV depending on your calcs. Using an 8% discount rate when Sprott is charging maybe 50% interest equivalent, including gold payments will be way too low. (lazy calc: maybe 216m usd in gold repayments, plus about 7.5% capitalised, say 37.5m USD in finance costs roughly) over 5 years is about $US 50m pa very roughly.
Error - they will owe another 10 koz on top of my sums
