Yes, Post-Tax NPV is generally used for the basis of valuations. When questioned, Michael Sheridan did offer an approximate Post-Tax NPV of $1.1 million, but it would have been better that they provided in the DFS. Patrick Nelson of Reach who facilitated the webinar did also equate in the Q&A session that he thought the current share price of VHM at this stage should be around 30% of NPV.
As for 3-4 m thickness that is the high grade, which is near the top of the hole. Strip ratio also pays a part. Goshen has a strip ratio of 2.6. Just considering the high-grade interval the strip ratio would be 6.66 ... they may be also looking at the lower grade intervals that underly the high grade interval.
VHM Price at posting:
79.0¢ Sentiment: Buy Disclosure: Held
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