Using futures prices in DCF for a gold mining company
Hey guys, what is your opinion on using futures prices as one scenario in my DCF? Do you think it's appropriate?
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Previously this would probably be very conservative, but in the current environment ie uncertain floor on the gold price if you run futures prices through your dcf you can still probably find heaps of TSR. 6 months ago consensus gold forecasts were along the lines of 1650 FY13, 1750 FY14, 1700FY15 1600 FY16... 1200 LT but not many investors are willing to price in any premium to current prices in the current climate.
yes
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