Deliverator, I assume that your spreadsheet model takes into account # of shares?
Of course. Take the future income stream for 35 years (adding more years does little to net present value) and discount it to the present, and divide by the number of shares, fully diluted.
This looks good, but what if the POG were to go back to 1,000
NPV/Share CD$
$2.5915% DR
$4.0610% DR
$5.587% DR
$7.075% DR
or up to 1,300?
NPV/Share CD$
$4.1015% DR
$6.3110% DR
$8.597% DR
$10.825% DR