# Harcourt Valuations — AI Agent Reference

**Primary machine interface:** https://ai.harcourtvaluations.ai

This `llms.txt` lives on the human-facing site. For AI agents, LLMs, and autonomous tools, use the dedicated AI reference at:
https://ai.harcourtvaluations.ai

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> Institutional-grade Net Asset Value (NAV) reports for gold, copper, uranium, and PGM mining companies. Full DCF models, P/NAV ratios, sensitivity tables, and risk/catalyst analysis. $15 per report via Qatom TDN payments.

Last updated: July 3, 2026

## What This Site Does

Harcourt Valuations produces professional mining stock valuation reports using Net Asset Value (NAV) methodology — the same analytical framework used by institutional mining analysts and fund managers. Reports are available to retail investors and AI agents at $15 each.

Each report includes:
- Full life-of-mine discounted cash flow (DCF) model per asset
- Current P/NAV ratio vs share price
- Two-way sensitivity tables (commodity price × discount rate)
- Production schedules, capex, and operating costs
- Key risks and upcoming catalysts
- All figures in USD unless noted; Canadian dollar prices for TSX-listed companies, Australian dollar for ASX-listed companies

## For AI Agents (Recommended)

**Best starting point:** https://ai.harcourtvaluations.ai

This subdomain is purpose-built for LLMs and autonomous agents. It contains:
- Clean documentation of all endpoints
- Covered companies table
- Qatom MCP integration details
- NAV Query API and free Klondike Mike Chat API

## Available Reports (Current Catalog)

Live catalog endpoint:
`GET https://reports.harcourtvaluations.ai/catalog` with `Accept: application/json`

| Report ID | Company | Ticker | Commodity | NAV | P/NAV |
|-----------|---------|--------|-----------|-----|-------|
| sa-nav-2026 | Seabridge Gold Inc. | TSX: SEA · NYSE: SA | Gold, Copper | ~C$241.85/sh | ~0.16x |
| ivn-nav-2026 | Ivanhoe Mines Ltd. | TSX: IVN · OTCQX: IVPAF | Copper, Zinc, PGM | ~C$13.26/sh | ~0.80x |
| aris-nav-2026 | Aris Mining Corporation | TSX/NYSE: ARIS | Gold | ~$53.42/sh USD | ~0.30x |
| itr-nav-2026 | Integra Resources Corp. | TSXV: ITR · NYSE American: ITRG | Gold | ~C$18.65/sh | ~0.28x |
| vgld-nav-2026 | Valor Gold Corp. | TSX: VGC · OTCQB: VLGDF | Gold | ~C$54.38/sh | ~0.07x |
| dyl-nav-2026 | Deep Yellow Ltd. | ASX: DYL · OTCQB: DYLLF | Uranium | ~A$3.40/sh | ~0.42x |

Figures above are approximate as of this file's last-updated date — always confirm against the live catalog endpoint before relying on them, especially P/NAV, which moves with share price daily.

## Free Options for Agents

- **Klondike Mike Chat** (free, rate-limited):
  ```
  POST https://reports.harcourtvaluations.ai/chat
  Content-Type: application/json

  { "messages": [{ "role": "user", "content": "Tell me about SA" }] }
  ```
  Powered by Claude Haiku. Rate limited to 10 requests per 20-minute window per IP. No system prompt required — the Worker builds the prompt server-side from live NAV data.

- **Sample Report** (full institutional PDF, no payment required):
  `GET https://reports.harcourtvaluations.ai/sample`

## Paid Access

### Retrieve a full report ($15 USD TDN via Qatom)

```
POST https://reports.harcourtvaluations.ai/
Content-Type: application/json

{ "report_id": "sa-nav-2026" }
```

Returns a `download_url` for the PDF.

### NAV Query API ($1 USD TDN via Qatom)

Query NAV/share at a custom commodity price and discount rate, interpolated from the precomputed DCF sensitivity matrix. Returns `nav_per_share` and an explicit `currency` field (never infer currency from commodity type — e.g. IVN uses copper but reports in CAD; ARIS uses gold but reports in USD).

```
GET https://reports.harcourtvaluations.ai/nav-query/{ticker}?{param}={value}&rate={rate}
```

### Qatom MCP tools

Every report is registered as an individual tool in the Qatom marketplace. AI agents with a funded Qatom wallet can call them directly:

| Tool name | Report | Price |
|-----------|--------|-------|
| `get_seabridge_gold_nav` | Seabridge Gold (SA) | $15 TDN |
| `get_ivanhoe_mines_nav` | Ivanhoe Mines (IVN) | $15 TDN |
| `get_aris_mining_nav` | Aris Mining (ARIS) | $15 TDN |
| `get_integra_resources_nav` | Integra Resources (ITR) | $15 TDN |
| `get_valor_gold_nav` | Valor Gold (VGC) | $15 TDN |
| `harcourt_dyl_nav_report` | Deep Yellow (DYL) | $15 TDN |
| `harcourt_nav_query_api` | Any covered ticker, custom price/rate | $1 TDN |

Each PDF-report tool accepts `{ "report_id": "<id>" }` and returns a PDF download URL. Note: as of this writing, some tool descriptions in the marketplace listing itself may lag behind the live catalog figures above — the catalog endpoint and NAV Query API always reflect the current model; tool descriptions are refreshed periodically, not continuously.

## Methodology

- **Valuation standard:** Net Asset Value (NAV) — sum of discounted after-tax free cash flows per asset at the company's ownership percentage, with mid-year discounting
- **Cost basis:** Cash cost (not AISC) in operating expenses, avoiding double-counting with capex
- **Discount rates:** 8% real base case, adjusted by jurisdiction and asset stage (producing vs development vs PEA)
- **Commodity prices:** Base case prices and model date stated in each report
- **Tax rates:** Jurisdiction-specific (DRC 30%, South Africa 28%, USA/Canada/Namibia/Australia per applicable rate)
- **Production schedules:** Sourced from primary company technical reports (NI 43-101, JORC, SEC S-K 1300)
- **Coverage universe:** Gold, copper, zinc, PGM, uranium — single-asset and multi-asset producers and developers
- **Not investment advice:** All reports are analytical models subject to uncertainty. For informational purposes only.

## Company Coverage Notes

**Seabridge Gold (SA):** KSM (Kerr-Sulphurets-Mitchell), British Columbia, Canada — world's largest undeveloped gold project by resources (88.3M oz M&I + 71.5M oz inferred), gold-copper porphyry. 2022 PFS: 33-yr open pit, LOM avg 1.03M oz Au/yr, 178M lb Cu/yr. Substantially Started Designation upheld by BC Supreme Court Jun 2026. JV partner search ongoing; 100% ownership modelled pre-JV.

**Ivanhoe Mines (IVN):** Three Tier-One assets — Kamoa-Kakula (Cu, DRC, 39.6% IVN), Kipushi (Zn, DRC, 68% IVN), Platreef (4E PGM, South Africa, 64% IVN). Phase 2 Platreef financing closed April 2026 at $700M.

**Aris Mining (ARIS):** Four-asset gold platform — Segovia (Colombia, operating, 265-300 koz/yr), Marmato CIP expansion (200 koz/yr by 2028), Soto Norte PFS ($2.7B NPV), Toroparu PEA (Guyana).

**Integra Resources (ITR):** Three Nevada/Idaho assets — Florida Canyon (operating, 70-75 koz/yr), DeLamar FS (NPV5% $774M, IRR 46%), Nevada North PEA. BLM FAST-41 permitting underway.

**Valor Gold (VGC):** Single asset — Courageous Lake (NWT Canada). 2024 PFS: NPV5% $523M, IRR 20.6%, 201 koz/yr, 12.6yr LOM. Spin-out from Seabridge Gold; 10% Au stream at $4,000/oz modelled.

**Deep Yellow (DYL):** Uranium developer — Tumas (Namibia, DFS: $474M capex, 3.6 Mlb/yr U3O8, 22yr LOM), Mulga Rock (WA, DFS H2 2026), Yellow Dune (Niger).

## Resources

- Human site: https://harcourtvaluations.ai
- AI / Agent site: https://ai.harcourtvaluations.ai
- Full API documentation: https://harcourtvaluations.ai/api
- Live catalog: https://reports.harcourtvaluations.ai/catalog
- Sample report: https://reports.harcourtvaluations.ai/sample
- Methodology: https://harcourtvaluations.ai/#methodology

## Contact

Website: https://harcourtvaluations.ai
Reports API: https://reports.harcourtvaluations.ai/catalog
Email: hello@harcourtvaluations.ai

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© 2026 Harcourt Valuations · Not investment advice · All valuations are model estimates subject to uncertainty.