Discussion Topic "Shares in First Mining Gold Corp have just about doubled over the past 12 months. The company has just put out pre-feasibility numbers for its Springpole gold project in Ontario, Canada, and they look compelling. Over a mine life of 11.3 years, the project looks set to generate US$2.3bn in pre-tax cash flow, with average annual gold production ringing in at 335,000 ounces for the first nine years. For now, First Mining is favoring a US$1,600 gold price assumption, just to be on the safe side. And even that shows a project delivering a net present value on the same terms of US$995mln, and an internal rate of return of 29.4%." Given that this project uses 5% as the discount rate. Using what you learn in Chapter 5, state your opinion about this discount rate, and the pros and cons of using NPV and IRR to evaluate this project. Discussion Topic "Shares in First Mining Gold Corp have just about doubled over the past 12 months. The company has just put out pre-feasibility numbers for its Springpole gold project in Ontario, Canada, and they look compelling. Over a mine life of 11.3 years, the project looks set to generate US$2.3bn in pre-tax cash flow, with average annual gold production ringing in at 335,000 ounces for the first nine years. For now, First Mining is favoring a US$1,600 gold price assumption, just to be on the safe side. And even that shows a project delivering a net present value on the same terms of US$995mln, and an internal rate of return of 29.4%." Given that this project uses 5% as the discount rate. Using what you learn in Chapter 5, state your opinion about this discount rate, and the pros and cons of using NPV and IRR to evaluate this project