| Report after-tax NPV at 5% | US$282.1M |
| Re-created NPV at 5% | US$282.6M |
| Variance vs report | +0.2% |
Re-created NPV: the report's after-tax NPV recalculated in our model from the report's published inputs, using the report's own tax, working-capital and timing treatment. It shows how closely the published economics can be reproduced. It does not confirm that the report's calculations or assumptions are correct, and it is not our base case.
What the rebuild process surfaced. The study prints no annual cash-flow table, tax row or yearly grade; the model's annual cash flow and grade are read from its charts. Its US$64M Ontario Mining Tax is calculated after deducting the private royalties, which the Mining Tax Act does not allow. The model builds tax from federal and Ontario statute; on that basis the value is below the study's, while pre-tax the two are close. With the study's tax basis selected, the model lands 0.2% above the report.
Subscribers view every model in the browser at launch; Excel downloads use download credits. A complete sample model is free to view in your browser: open the sample.
Members receive email updates as we add new projects. Paid subscriptions open at launch, with every rebuilt model viewable in the browser and new analyses as they release.