To get back to the feasibility I was reading something Elmer was saying at the end of 2010, when the feasibility was expected early 2011!!! I was surprised by how quickly he thought it could get into production after the feasibility is released.
"Stewart calculates that if the feasibility study is completed by the first quarter of 2011, production could begin by the first half of 2013. “That’s assuming they didn’t run into any difficulties related to financing, construction and permitting,” he cautions. Besides the power line – which is scheduled for completion by the end of 2012 – access roads would be needed to begin mine construction and operation.
Most of the people who are buying copper projects and resources now are companies that require the metal,” Stewart notes. “That would be any company who has a use for copper who is subject to buying copper or copper concentrates on the open market. If you’re already in the business, you’re better off buying the resource in the ground as opposed to buying the concentrates.
The feasibility study will take into account the savings of having the new high-voltage power line and updated capital costs and commodity prices. “All that information – including strip ratios, mine planning, resources, reserves – will be updated when the feasibility study is completed,” Stewart promises. “For example, in 2008 the gold price used was $692 per ounce. Today, it’s over $1,300 per ounce, and is forecast by many in the industry to go higher.
Stewart expects that the electricity from the northern transmission line and higher throughput in the facility when it is operating should improve the overall economics of the project."
