Hey all, can we start a new thread?
I'll bite...
We should get a PEA from Arizona in a couple of months. Given the comments that Neofight stated from the AGM, that there should be 1billion pounds of copper at .52% and a possible further 2billion pounds of copper at .25%, what will this do to our overall value and our share price?
A nearby project that sold recently is the Pinto Valley mine. It is an open pit mine and I think that would make it's cash cost per pound ($2) of copper higher than the leaching method we are looking at.
When Capstone bought the project they paid US$650M and got an operating mine with 130 - 150 million pounds of copper in concentrate and approximately 10 million pounds of copper cathode annually, along with by-product molybdenum and silver, at an estimated cash cost of approximately $1.80 per pound, net of by-product credits, for the first five years of production. At the time of purchase the project had a mine life of 5 years.
Since that time, Capstone has extended the mine life to 2026, however the grades seem quite poor for the extended period: Cut-off Grade -- 0.18% Cu 2014-2022, excess ore below 0.20% Cu was stockpiled for processing in 2025-2026. An internal cut-off grade of 0.17% Cu was applied in 2023-2025.
So what does this do for the Van Dyke project should the projections that Elmer was talking about come to pass? Maybe more importantly, what does this do for our stock price when the PEA is released?
