calvin123456789's Profile
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Can't really compare SC to Oyu....one is massive with underground mining and I believe higher grade.
The other low grade open pit.
I rather buy the 300 shares.
Honestly, what is there to ask at the AGM anyways?
I believe Elmer knows just as much as we do right now.
We are waiting for results from Teck, PEA from moose mountain on VD, and program to be finished at eaglehead.
Until then, we all know just as much as the company does.
I think only sharing the road is the only benefit we have from Galore/SC team.
Anyways...
Teck's q1-2015 report, if you go to page 20, you can see the same investing activities table.
Copper New mine development spent up to that date was $34 million. According to the new table, we have another $70 million to spend.
I'm curious too. I wonder if the JV $4.5 milllion is part of this.
Did you see that they expect deficits to be around 2017 onwards?
They don't expect them to be this year or next but the following year.
I think that the cycle is close to starting up again, within the next 12-18 months imo. A rapid CU price ascent will preceed an official copper deficit by about 6 months. My best estimate is that between late-2015 to mid-2016 the copper market will catch a wiff of the impending deficit and that's when copper will start a strong ascent, north of $3.50 and possibly nearing $4. This of course all depends on the acuracy of Teck's and other's projections of when copper supply deficits are expected. There's that bloody word again, "expected".
I believe a lot of the major producers projected deficits closer to 2020.
That being said, if the price rises in the next 12-18 months, I don't think SC as a mine is able to take advantage of the next cycle anyways. Even if they announce production now or a year ago. They still need a least one year of EA before getting construction going.
Also, once we see price going north of $3.50 and nearing $4, we will see a lot more production going back online and working again.
But as a junior company, seeing price going to $4 may create some craziness in the market and we might be able to get a premium for our asset.
Golfyeti, when do you expect the next copper cyle to start? Specifically what year?