Every published analysis. Each entry is a complete set: the rebuilt Excel model and the investor memo. Subscribers download both; samples are available on request while the launch list is open.
| Report after-tax NPV(5%) | US$1,491M |
| Independently rebuilt | US$1,239M (−16.9% (deliberate, decomposed)) |
The study's after-tax NPV cannot be reproduced from its own tax disclosure: it applies a 30% rate stated to include the 8.5% special mining duty, which is not a construction Mexican law provides, and roughly US$265M of deductions are never named. Building the tax from the statutes leaves the rebuild 16.9% below the headline, decomposed line by line; in the study's own taxation reading the model ties to −0.06%, so the divergence is the tax build and nothing else.
| Report after-tax NPV(5%) | US$3,003M |
| Independently rebuilt | US$2,883M (−4.0% (deliberate, decomposed)) |
The study's published NPV omits two taxes the study itself states — charging every stated tax leaves the rebuild 4% below the headline, decomposed line by line, with a selectable report reading that reproduces the published figure within −0.7%. The report also publishes no annual tables, so the model reconstructs the full annual economics from its mine plan and unit costs.
| Report after-tax NPV(5%) | US$1,802M |
| Independently rebuilt | US$1,792M (−0.5%) |
Three findings the study does not show: its cash flow contradicts its own stated 30-day working-capital terms; ~US$128M of pre-production revenue escapes tax entirely (no statutory basis); and Mexico's statutory profit-sharing is omitted without explanation. Each is built as a selectable assumption with its NPV effect quantified.
| Report after-tax NPV(8%) | US$1,376M |
| Independently rebuilt | US$1,361M (−1.1% (deliberate, decomposed)) |
The rebuild found the report's published cash-flow table does not reproduce its own headline pre-tax NPV, and its closure line disagrees with its capital table — proven by cross-footing the report against itself. Our variance is deliberately held and decomposed rather than forced to tie.
| Report after-tax NPV(5%) | US$2,059M |
| Independently rebuilt | US$2,048M (−0.5%) |
West African fiscal mechanics built from statute — Côte d'Ivoire loss carry-forwards, unit-of-production depreciation with the first-year uplift, and a working-capital decomposition that reconciles the report's own series line by line.
| Report after-tax NPV(8%) | US$4,691M |
| Independently rebuilt | US$4,723M (+0.7%) |
A full concentrate-economics build (payability, treatment and refining charges, molybdenum by-product) inside a major's portfolio. The model exposes a ~US$156M gap between published equipment provisions and the cash-flow's sustaining capital, built as a selectable dual-method line.
| Report after-tax NPV(5%) | US$1,707M |
| Independently rebuilt | US$1,691M (−0.9%) |
A maiden PEA on a low-grade open-pit heap-leach asset: the memo leads with study-stage and financing risk rather than the headline NPV, and shows how the economics move between the report's price deck and current market prices.
| Report after-tax NPV(5%) | C$1,127M |
| Independently rebuilt | C$1,135M (+0.7%) |
The report's tax shield is rebuilt two ways: a report-implied depreciation schedule that reproduces the published annual tax exactly, and a selectable first-principles Canadian CEE/CDE resource-pool alternative — so a subscriber can see how much of the valuation rides on tax timing.
Join the list and you will receive the first full publication — the rebuilt Excel model and the ten-page investor memo — by email, free, when it releases. Founding subscriptions open afterwards for continued access to new analyses and the library. Founding subscriptions from US$99/month (launch pricing to be confirmed).