Thank you for this thoughtful analysis. I think there are at least 3 other major considerations to keep in mind. The analysis is predicated on actually removing the projected gold reserves. It may be technically not feasible to mine the known reserves; the actual amount of recoverable gold is unknown. We do not know how gold prices will fluctuate over the next 10 years. Finally, the other part of NWTT--Bermal, and possible parts--silver mine, lighting , paint all have potential value which could effect pps.
Given these variables, which represent unknowns, it is difficult to determine a valuation. I do appreciate the effort you have undertaken and your objectivity. Board mark for you. I hope you are correct. GLTA
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