EIA Report, page-174

Nro, you're dreaming.
First i know the difference between Capex and Market Cap. Regardless of either one you want to talk about, both have been steadily going down for years as the company continues to spend tons of money and fails to have anything done. May i remind you, THE COMPANY STILL HAS FAILED TO GET AN EIA APPROVED after 12 years and spending 269,000,000 dollars. THEY Failed 3 times already. I have a copy of the failed 2018 EIA and the most recent 2019 EIA and I have compared them. I can report that they are virtually identical. That was disappointing to find as I compared them because it means that the company chose to ignore the guidance given by the government to the company after the 2018 failure. It virtually guarantees that the 2019 EIA since it is the same as the failed 2018 version, will be rejected as was the 2018 version.

So,. with the company's continued failures as to getting an EIA approved which precludes moving forward at all toward getting a mining license I don't thing you will have any income and time soon. That being the case the IRR isn't a factor any time soon. The company won't be selling anything.