Sorry me again....I've had time to read the whole thing...

Sorry me again....

I've had time to read the whole thing now.....and I've found the problem.....they're idiots.

So it goes through all the results and comparisons between the PFS and FS, a bit more Capex, costs per oz up and grades slightly down.
Then the valuation, a drop of 50% or so, and they claim it's due to these factors. But then they provide a table of the affect of their Discount Rates and the POG. Now PMI have a discount rate of 5%, pretty standard stuff, we are not purely a spec stock anymore, we're only 18 months from production. However these conservative fools have made an opinion call and used a whopping 12.5% DR with a POG $100 lower. Using their chart the DCF valuation using PMI's POG and DR is $2.14. That's more like it.

I really hope their customers took that on board. Really annoyed me to see that first thing.