In this article, I'll have a closer look at Papillon Resources (OTC:PAPQF), an Australia-based mining company which is aiming to develop its 5M+ ounce Fekola gold deposit in Southwestern Mali. I will give a brief description of the flagship asset where after I will try to calculate a Net Present Value of the project using different input assumptions (a changing gold price, discount rate, etc) to end up with a fair value for the project.
As most people aren't very familiar with Mali I will talk about the current (political) situation and geopolitical risks in the 'risks'-section. Thereafter I will provide some assumptions about how this project might get financed, and this will result...
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