Once again, cash flows net to zero.

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The change in net earnings and operating cash flows is primarily due to a 36% increase in the number of silver equivalent ounces sold, which was partially offset by a 24% decrease in the realized price per silver equivalent ounce, the company said in its quarterly statement Thursday.

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The value of an operating asset are the net present value of expected free cash flows discounted to infinity.

ECONOMIST: Robert Wade replies

The net present value of any economic project is the sum of its discounted future cash flows.

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