I was trying to do a NPV and of course the numbers didn't fit unless I used some kind of attenuation factor. I used .8245pa to make the numbers fit and ended up with 5.8million in year 9 which seemed a bit on the small side. I am sure you are correct about tie-ins but I was just trying to work out a NPV for Chinguetti. Obviously it is not that simple. The region has to be taken as a whole in looking at the economics.
The data in the Euroz report is extremely useful and can be used as a crosscheck on the DCF. I question the report by 618 with some trepidation. The report is great but I am sure his Chinguetti valuation is far too small.
Complex
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