It looks like mining taxes have decreased to 15% Federally and 10% provincially (25% total according to KPMG and others), so the numbers in the last post and this one, would indeed be a worst case scenario in my mind. In short, we're very much undervalued based on the old PFS numbers.

Probably not worth reposting with new numbers (as I don't know the ins and outs of mining taxation in BC) but here it is with a few cents difference. Anyone with knowledge in this area, please weigh in - I am assuming that NPV is taxed at 25%:

BTW, the Extorre buyout numbers, which Chappy posted and which got me thinking about this, show a tax rate on the NPV5 of 37% - ouch!

NPV5 pre-tax US $ 737.4 million NPV5 Free cash flow (after tax) US $ 463.2 million

Old CUU PFS NPV at 25% tax rate

PFS NPV5 pretax: $4.69 Billion x 0.75 = $3.518 billion after tax

PFS NPV8 pretax: $2.76 Billion x 0.75 = $2.07 billion after tax

NPV5: $3.518 billion x 25% (CUU portion) + $300 mm (Teck for exp.) = 1.18 billion

NPV8: $2.07 billion x 25% (CUU portion) + $300 mm (Teck for exp.) = 817.5 million

NPV5: $1.18 billion / 414 million shares (fully diluted) = $2.85 a share

NPV8: $817.5 million / 414 million shares (fully diluted) = $1.97 a share