Quote:
Originally Posted by blkgsr
ah ok
maybe i read this wrong or don't quite understand it, but did you see the values they were putting towards the minerals in the report?
gold at $1075.00/oz
copper at $ 2.50/lb
silver at $ 16.10/oz
moly at $ 17.00/lb
those are very low numbers, which obviously makes it way better with todays current prices
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the baseline feasibility study numbers are always very pessimistic to show the economics of building the mine are viable even without sky high metal prices; if you take today's spot rates into account it will reinforce their decision to green light the project. The problem with most of the present projects is short mine life. If the projects are potentially high grade with long term viability a major would have bought them out already. You're looking at projects with a time horizon of 2-3 years whereas mining companies are already looking at the estimated demand at year 2020 to which they are scouring the world to add to their pipeline.
Kinross is looking very attractive right now as they're having trouble integrating their most recent acquisition. Barrick looks good and speaks to the future demand of copper as you have a gold company paying big bucks for Equinox as their forecasting shows it will be in short supply.
Ross Beatty's Lumina Copper Corp (LCC) has a massive reserve and is a safe bet for a takeout.