Secondary Indicators of Value Sample Clauses

Secondary Indicators of Value. Past Transactions Regarding the Quarry Site‌ 288. The amount of C$ however, does not reflect any prospect that return on the investment might have been generated in the event of the successful permitting, construction and operation of the Whites Point Project. No reasonable business person would spend over US$ on an opportunity whose value does not exceed that amount by some reasonable margin. As the Gemplus tribunal has noted, even where income-based approaches are inappropriate in view of the uncertainty of future income streams, the prospect of future earnings must not be disregarded entirely. Such prospects inform the value of the opportunity that a claimant has lost.375 289. In establishing the value of the opportunity lost by the Investors in the present case, the Tribunal need not rely solely on an “exercise of its arbitral discretion”,376 as the Gemplus tribunal appears to have done. Rather, the Tribunal has the benefit of being able to refer to certain past transactions made in relation to the Whites Point Project site, which allow it to establish an implied value range of the investment opportunity presented by the Whites Point Project, as it was seen by economic operators at different points in time. Three transactions in particular have been discussed by the Parties.