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Fulmar I didn't know much about the Sentinel Mine prior to Arcm investment. But you are correct in that after 8-10 drill holes it was sold by Colin Bird. Considering that the grade is 0.5%,and they've got to process a lot of pay dirt. That's an inferior deposit to Fwiji, by all economics used in calculation of mining. Strip Ratio, LOM, Capex, Opex, Grades, Metallurgical recovery rates etc etc. $260m v Fwiji with drill holes showing serious sulphides if we hit in next two months and possibly 25m tonnes of the red metal. Nick's gotta be asking for a lot more than what First Quantum paid for Sentinel Mine.
@Kully- Single Sentinel comparisons (or even similarities)for me are the lowest possible case scenario .It was sold with only 8 or 10 drills done and has low grades as you say,and so far,a limited LOM and that's after some serious drilling to try and find the missing "DW tonnage" -our area is huge in comparison and we will have done a lot more drilling before any sales. But if we only had the equivalent of 6/8 Sentinels and proved them up more than they did ,it would be double digits times our present Mcap.I think NvS is reducing our risk and "spreading " the risk of our resources -it could get silly !!!!
Ignore the Sentinel Mine produces 600k tonnes, I'm getting it mixed up with Kamoa mine owned by Ivanhoe mines. Sentinel has low grades of 0.5% with 300k tonnes production , thats had $2.1bn spent to get into production. Kamoa is the better grade mine, with 600k tonnes per year. My bad, what with other mines nearby and so much discussion to take in.
Late morning everyone, guess there are 3 possible outcomes here in the next two months. We get a JV. We get a buyout of all licenses. We sell a part of the license (Fwiji). Prefer the latter, we get funds to develop the remaining deposits, and AA get their prize possession. Nick can't discuss, but the separation of the license around Cheyeza so we can produce from a small scale plant. Suggest that a partial sale is incoming. If Fwiji hits great drill results, then Nick will demand top $? David Wood has suggested that it's host to the missing copper from the Sentinel Mine? 25m tonnes, and of good economic scale. Sentinel produces 600k tonnes per year, so at 500k tonnes per year, life of mine is 50 years! So thinking that way, Nick isn't going to sell cheaply. The reference to Voisey Bay, suggests he's prepared to negotiate with other suitors. First Quantum are the owners of the Sentinel Mine and 40km is easily accessible by rail built for purpose? If Sentinel were to buy Fwiji, they would produce 1.1 M tonnes per year, that's breathtaking. Considering that Sentinel has early production grades of 6-8%,Fwiji fits perfectly with their production agenda. Sentinel was sold for $260m by Colin Bird. I don't have much details of how that deal was brokered, and how much the Copper price was, or how much drilling was done? Would suit me fine if Fwiji was sold for a much larger sum than Sentinel, but we're not negotiating with AA. 2 months left on the EA, and we can only speculate. ATB everyone.
@cattleman
"....anything could happen but what ever it is we will all have a broad smile....just don't exit to quickly ...that's my take..."
If you take the Lassonde mining curve as fair description of how this may play out, then we have plenty of time for the SP to continue to increase after the initial "deal" news, and would totally agree with your thoughts on not leaving this opportunity early.
IMO ATB Shorn
As some will know I don't put pen to paper with upper figures ,but always have a minimum in my mind when investing in a company.My "firesale" price here used to be 18p , but recently I have lifted that to 25/35p and feel comfortable with that . This is based on a single Tier1 asset and other smaller deposits-it could get a lot larger.
I am not going to state a figure on the share price but just to say on and over the time of a J/V and if they confirm what David Wood and a few others feel we have then anything could happen but what ever it is we will all have a broad smile....just dont exit to quickly ...thats my take
@cattle and 04-exactly where I am coming from and as for 50p (04) the FCF from Ch E will support that, as it would easily contribute 2/3x present Mcap and then everything else should contribute a fair whack to comfortably achieve that figure,obviously barring disasters.
Interesting you say 50p in 2 years.
FAR went from 10p to 42p in 5 days due to mining veteran Mick Davis taking a stake in it.
I expect a JV but have no idea what the SP will go to. I own nearly 1.3m shares.
Estimates on SP?
My exact feelings Cattlemen.Have been involved here for over 10 years and many other junior mining exploration companies.Never have I ever been so convinced that this is going to be at least the equivalent of 50 p in 2 years .Have spoken to senior management on a couple of occasions and all sound very sincere and forward thinking
Patience is the key and top up on the dips.Now hold nearly 3 million shares
Its looking good...well better than that ..lets say fantastic ...this stock will be life changing for many and i do not say that lightly, it may take a little time and extreme patience will be needed, their may be frustrations along the way,these to myself are or will be opportunities to top up...Copper is rising monthly i say that because some days their may be a slight dip ...everything about the management is spot on and we have what the world needs and that is Copper...but remember newbies with total respect yOu will need Patience....as many know i have been here now a long time...and the blossom is
now starting to bloom...GLA
Up over 3% yesterday