Linc Energy

[Boon]

by the time the royalties starts to flow into the company in 2017, the number of shares in the company by then is most likely to be much higher than present.....so trying to find PV might be a waste of time.....

True, by the time the royalties starts to flow into the company...., the number of shares in the company by then would most likely to have increased .........but the increase in valuation then (with lower discount rate to reflect the decrease in risks) would more than make up for the effect of share dilution.................so trying to find PV might NOT be a waste of time to SOME.....

(vested)