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ZeroMatrix
Posted in: XTR
Posts: 111
Price: 3.35
No Opinion
RE: Next News...16 Nov 2022 10:44
And for that reason I wouldn't want to be out of this over the weekend ...!
There, said it!
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ZERO, I wish I was out of this a few weekends ago lol
Cela, they won't fight over it. I didn't say a major won't buy it!!! They all know copper will be in shirt supply. Anyone with an economical copper deposit will be in the eyes of the majors.
Even if they just buy them to mine in the future when copper prices are $7/$8/$9 per lb.
It's better for any major to increase their inventory of projects.
It's better to have a borderline economical deposit with potential around it, than to have a mining license on a piece of ground with no drilling on it!!
It's worth more than 17m
To be clear, 1 penny/cent profit means its economical to mine. What we need the new financial study to say is economical to mine at $4.5LB copper with a profit of 25% over the life of mine. Even at this, it is worth something but its not going to have majors fighting over it.
LETS WAIT AND SEE!
We already know it will be economical to mine.
It's at what price and how much profit it will make.
I looked into it a bit and 15% net profit over the mine life is what they class as a minimum.
Australia tax is 30% on mining profits.
So on a mine they want 22% profit minimum pre tax. So on a 8 billion dollar life of mine capex and opex. 2.5billion pre tax profit would be minimum.
I think bushranger will meet that.
Price to sell it? Not a clue. But I would be happy at 60/70/80 million.
I find it extremely difficult to imagine that Jeremy read and quinton Mills (spelling may be wrong) have spent the last two years of their lives/professional careers to come back with a resource that is the same as before but they have lowered the cut off!!!!
Does that not sound insane?