24 September 2026 · Independent Investment Research · Company news
DLP Resources (TSXV: DLP) reported a preliminary economic assessment for Aurora on 1 September, with US$2.703 billion after-tax NPV at an 8% discount rate, 18.5% IRR and US$2.377 billion initial capital. Base-case prices were US$4.90/lb copper, US$25.40/lb molybdenum and US$45.30/oz silver. The study includes inferred resources and does not establish assured economic viability. Source: Aurora study announcement.
IIR perspective: a project valuation becomes useful when readers can see its assumptions and how further studies and financing could change them. Equity analysis must account for the cost and terms of development funding, alongside commodity prices and technical execution. Dividing a project NPV by today’s share count would omit those considerations.
DLP separately confirmed that the first drill hole at Esperanza began on 20 September. That establishes commencement at another project, not validation of the Aurora model. The initial programme comprises approximately 3,000 metres in seven holes, with shallow oxide targets followed by deeper porphyry drilling. Assays and geological interpretation remain future evidence. Source: 21 September drilling update.
A proposed warrant-term extension announced on 23 September remains subject to exchange approval and should be considered in subsequent capital-structure analysis. Source: warrant announcement.
General information only. This article does not take account of your objectives, financial situation or needs and is not personal financial advice or a recommendation to buy, hold or sell securities. Mining investments involve operating, financing and liquidity risks. Consider the original announcements and seek appropriate professional advice.
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