Not WACC, probably more focused on what kinds of discount rates are used for what kind of companies (i.e. a gold RoyaltyCo is discounted at 5%, a copper mine at 8%, etc). Keep in mind, DCFs in mining (NAV models) project out mines until depletion (could be 30 year models) and use flat discount rates like 5%, 7%, 8%, 10% depending on the specific type of mine and stage.

More importantly, once you get the NAV value, you got to slap on a P/NAV onto it. Might wanna have a good idea of what P/NAVs most of these guys trade at - i.e. an early stage lithium project might trade at 0.3x, while a company like Barrick would trade in excess of 1x. 

Accretion dilution questions might be more focused around NAVPS A/D too, I'd assume? At the end of the day, mining M&A focuses on A/D for NAVPS, and to a lesser extent, CFPS. They don't really look at EPS at all. 

Also maybe questions around strategic rationale for mining M&A? Most commonly revolves around getting bigger scale to drive a multiple re-rate, cost synergies leading to NAVPS accretion, or a well-capitalized miner acquiring an unfunded project trading at a heavily discounted P/NAV and developing it

 
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