NPV
Nuveen Virginia Quality Municipal Income Fund
stock NYSE Closed Ended Fund

Buying rental property is a business. Investing in stocks is not. So your comparing apples and oranges.
Housing crisis. How is that going to help you. Housing prices are high, unless you can get around the high prices on one hand and the high interest rates on the other. I don't know enough about these details to say. You'd have to develop a business plan and look at the rate of return or NPV of that.

Jim Cramer says to buy it for your kids. So, it’s a long term investment, making its NPV - and thus its stock price - much, much lower.

**1. Executive Summary & Core Thesis**
District Metals Corp. (**TSX-V: DMX** / **OTCQX: DMXCF** / **Nasdaq First North: DMXSE SDB**) is an exploration and development company focused on its flagship **Viken Deposit** in Jämtland County, Sweden.
Viken represents the **largest undeveloped Mineral Resource Estimate of uranium in the world**, alongside massive deposits of vanadium, potash, nickel, copper, and zinc. As Europe actively seeks domestic supply chain security for critical raw materials and nuclear fuel, DMX sits on an asset with multi-billion-dollar potential.
**2. Project Economics & Unmatched Resource Scale (Summer 2026 PEA)**
In July 2026, District Metals filed its independent **Preliminary Economic Assessment (PEA)** for a 13-year Phase 1 mine plan at Viken, demonstrating elite financial metrics:
**Base-Case After-Tax NPV (8%):** **US$ 2.88 Billion**
**After-Tax Internal Rate of Return (IRR):** **45.9%**
**Payback Period:** **2.1 years**
**Initial Capital Expenditure (CapEx):** **US$ 876 Million**
**Average Annual Free Cash Flow:** **US$ 531 Million** (after tax, over 13-year LOM).
**The 3% Resource Utilization Factor:** The Phase 1 mine plan contemplates extracting **127.4M tonnes** over 13 years. This draws from only a portion of the Indicated Resource (456M tonnes) and **completely excludes the massive Inferred Resource of 4,333M tonnes** (\~1.5 billion lbs of U\_3O\_8). This means the **$2.88B NPV8% utilizes less than 3% of Viken's total resource footprint**, leaving astronomical multi-generational upside for Phase 2+ expansions using shared initial infrastructure.
**3. Socio-Economic Impact Study (EIS Results)**
Following the PEA, DMX released an independent Economic Impact Study (EIS) by BDO Canada LLP evaluating Phase 1:
**Total Economic Contribution:** **US$ 7.66 Billion** (74.33 Billion SEK), with **US$ 7.63 Billion** directly accruing to Sweden.
**State & Local Tax Revenues:** **US$ 1.58 Billion** in direct corporate income taxes + **US$ 199.6M** in employment taxes.
**Job Creation:** Supporting **\~1,065 direct and indirect full-time jobs** in Sweden.
**Local Landowner Fees:** **US$ 21.9 Million** in State Mineral Fees directly paid to local property owners.
**4. Key Macro Catalysts & Regulatory Environment**
**SGU "National Interest" (*****Riksintresse*****) Status:**
A critical legal catalyst centers on the Geological Survey of Sweden (SGU) designating Viken as a National Interest for valuable minerals under Swedish environmental law (*Miljöbalken*). This status legally prioritizes the deposit over competing land uses, granting strong state-level protection, smoothing municipal zoning conflicts, and giving DMX significant legal backing during the Exploitation Concession (*Bearbetningskoncession*) process.
**Sweden's Energy Policy Shift:** The Swedish government continues advancing legislation to expand nuclear capacity and re-evaluate the historical moratorium on uranium mining to secure national energy independence.
**EU Critical Raw Materials Act (CRMA):** Viken is not just a uranium play; its polymetallic nature (vanadium, nickel, copper, zinc) aligns directly with the EU's mandates. Achieving National Interest status in Sweden streamlines Viken’s potential recognition as an **EU Strategic Project**, unlocking fast-tracked permitting timelines and European strategic funding.
**5. Valuation & Market Asymmetry**
Despite holding an asset with a **US$ 2.88B NPV8%** on just 3% of its deposit, DMX trades at a modest micro-cap valuation. The market currently prices in regulatory discount and development risk regarding Swedish mining permits. Any concrete legislative progress, formal lifting of uranium restrictions, or SGU National Interest consolidation acts as an immediate, high-multiplier re-rating catalyst for the stock.
**6. Key Risks to Consider**
**Permitting & Regulatory Risk:** Development hinges on Swedish legislative votes regarding Alum Shale and uranium mining regulations, as well as municipal consent.
**Financing Risk:** Initial CapEx (US$ 876M) will require significant strategic partnering, government grants/loans, or joint-venture dilution.
**Commodity Price Volatility:** Project economics depend on sustained strength in spot/term uranium and energy metal pricing.

In the middle of a deep dive into this guy and TGN.
His director fee is peanuts, like $100k. But...​Tan Sri Dato’ David Law Tien Seng (often referred to as T.S. Law) is a prominent Malaysian mining, steel, and property tycoon. Net worth estimated at over US$200M.
Even then, putting A$11.5M (4% of his net worth) into a single, relatively illiquid, small cap seems unusual.
TGN released a positive economic study of their Watershed project in late June, just before this cat bought his shares. GWR also referenced this in their quarterly because they own a stake in TGN. (And a few common directors)
> Tungsten Mining reported that it had completed the Watershed Project
Preliminary Economic Evaluation study with a pre-tax NPV of A$1.31
billion, 198% IRR and nine-month payback