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![DVSignals Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1718579203.png) DeepValue Signals [@DVSignals](/creator/twitter/DVSignals) on x 2345 followers
Created: 2025-07-24 13:42:54 UTC

Added to $SURG.v (close to 150k shares). Not a perfect $MLP.v comp, see below, but it’s the best $copper analogue to my “pennies-on-the-NPV-dollar” setup I can find..

Key numbers:
- EV ~C$44M (pre new $10.4M financing close)
- After-tax NPV8%: C$2.1B @ $X Cu -> ~0.02× EV/NPV
- IRR: 20%, Capex: C$2.0B, 30-yr LOM

Why so cheap? PEA stage, mega capex (dilution/streams/JV likely), XX% IRR (not 30%+), BC permitting timeline.

Why I like it anyway:
- Strategics own real paper (ARM ~15%, Centerra ~11%) + aligned mgmt.
- PFS-level work (steeper pit walls, >90% Cu / XX% Mo recovs indicated) could improve strip & economics.
- Peer regressions imply a 2–3× move just to reach average EV/NPV & EV/lb CuEq...

Bottom line: For my “NPV-for-pennies” bucket, $SURG.v is the top copper pick today...

![](https://pbs.twimg.com/media/GwoHO_QW4AAWHyK.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948378358129062334/c:line.svg)

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[Post Link](https://x.com/DVSignals/status/1948378358129062334)