Looking at a previous presentation, was able to find the the NPV is most affected by the exchange rate, copper price & gold price.

1 point increase in the exchange rate increases the NPV by 75M

1 point increase in copper price increases the NPV by around 50M.

1 point increase in gold price increases the NPV by around 25M

The base case gives us a NPV of 513M with an exchange rate of 0.97, copper price of 3.25$US (3.35$ CAD) & gold price of 1445USD (1490$CAD).

Today, the exchange rate is at 0.76, copper price is 2.17USD (2.86$CAD) & gold price 1335USD (1780$CAD).

Therefore:

Exchange rate is up 22% compared to base case.

Copper price is down 17% compared to base case.

Gold price is up 20% points compared to base case.

513M + (22 x 75M) - (17 x 50M) +(20 x 20M) = 1.7B

1.7B x 25% divided by 417M shares = 1.02 per share.

With all the data we have today, this would be, in my opinion, the current NPV of Shaft Creek.

Looking forward to the revised numbers... "soon"... if we ever see them one day.

MoneyK