In this article I'll have a closer look at Colt Resources (OTCPK:COLTF) which aims to develop its Boa Fe gold project and Tabuaco tungsten project in Portugal. I will start with a background of the gold and tungsten project, and as the company has completed a Preliminary Economic Assessment (PEA) on both projects, I will have some fun with calculating the NPV's of those projects using different scenario's.
Thereafter I will discuss the main risks of an investment in Colt and how the capital expenditures of the projects might be financed. Before moving over to my investment thesis at the end of this article, I'll explain why the total package of management compensation is a red flag
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