That isn't correct. The NPV(8) on a 438M (peak negative cashflow of Coda's Project) investment in bonds at 4% coupon is $287m pre tax vs the pre-tax NPV(8) quoted by Coda of $570M which also includes capital return.
Undiscounted you're looking at $683M (bonds) to Coda's $1.298 Billion. Sure, we could argue about risk - bonds being lower risk, but bonds have no exposure to copper price upside.
At 26.5% IRR Coda's quoted return is higher than CVV, RXM, or KGL's quoted IRRs.
That isn't correct. The NPV(8) on a 438M (peak negative cashflow...
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