Member Info for MTSparky

One option for financing the next phase would be a royalty based finance deal with say Orion Mine Finance. Say Take $25m and pay the money off through future production.

Yes they do mine Copper too, 8000 tonnes PA from 2021 !! That’s about $40m per year just from Copper. If the Geologists are right this could be one of the biggest copper mines in the world !!

Thanks for responding RightOn I look forward to your further analysis. Clearly the £26/sh valuation I posted was tongue in cheek, I think most people got that. Sensible valuations are what we need so we don't get carried away with ourselves! As you say though if the current value of the Silver Mine alone is about 80p/sh we can expect a re-rated sp around the £3 mark (guess) in the not too distant future. I very much look forward to a revised Hardman & Co report by Paul Mylchreest...;o))

Thanks for posting the information Lincolnshire BTW

I think before we sell out for £1.65 we need to read the Hardman & Co report by Paul Mylchreest. They have literally only scratched the surface at Empire :

Besides the substantial skarn potential, there is also the possibility that Empire is
part of a larger mineralised porphyry molybdenum-tungsten system or porphyry
copper-molybdenum system subjacent to the sulphide veins.

Similarities with Antamina
The largest and best-known mines worldwide, based on skarn deposits, include:
? Antamina – in the Andes, and one of the world’s largest copper-zinc mines.
? Ok Tedi mine – a copper-gold mine located in Papua. It was believed to be the
biggest copper-gold deposit worldwide when mining began in the 1980s.
? Cantung mine – in Canada’s Northwest Territoires. It was the largest source of
tungsten in the western world prior to its closure in 2015.

The high proportion of endoskarn at Empire is potentially significant, since it bears
a similarity with Antamina, which is also “abnormally abundant” in endoskarn. The
Antamina deposit is located in the copper belt of the north Andes. Like Empire, it
was formed in the the Eocene period by emplacement of quartz monzonite
intrusions into cretaceous limestones.

Does anyone have any "sensible" numbers for commodity value in the ground?

Time will tell Mr sensible !...;oD

So would I. If you read all the reports done by geologists at their acreage and multiply those numbers by current commodity prices it gets quite interesting. Then factor in the view that only 1-2% has been discovered. Then factor in the deep resources yet to be tapped in to. Potential world class. Plus the Cobalt belt etc. The numbers do start to get quite large !

40.00 - 43.00 (GBX) at 09:00:10 on Market (LSE)

...we are getting there slowly. Just another £25.60 to go...;o))))

Well someone else bought them and other folks keep buying. £2/sh will do for me !!

...is the share price based on Today’s Measured, Indicated and Inferred value for Empire and Red Star + the Cobalt etc etc.

I am not sure they are all sells. Someone has been selling into the rise so the MM has had to work the sells through. If they are now done selling, next news should give us lift off. The current drilling programme is finding new resources every day....;o)))

On Twitter - Our team at the Empire Mine continuing to upgrade inferred resources via infill drilling....

More value being added every day....;o))

RED STAR SILVER/LEAD DEPOSIT - Update resources, Metallurgical test work & Economic Analysis.

......this news could at least double the SP then. Even more if the resources volumes are increased too.

RED STAR SILVER/LEAD DEPOSIT - Update resources, Metallurgical test work & Economic Analysis.
EMPIRE MINE OPEN PIT COPPER/GOLD/SILVER DEPOSIT - Drilling high grade gold zone & feasibility.
NAVARRE CREEK GOLD ZONE - Geochem and Geophysics

WH IRELAND - May 2020 - £1.40/sh fair value price (THIS MUST BE ABOUT £3/sh +++ NOW)
Hardman & Co 2020 85.6p/sh NPV based on Red Star alone @ Silver $27.8/oz

Phoenix holds two prospective copper-cobalt properties on the Idaho Cobalt Belt,
200 km north of Empire Mine
? Bighorn Property – 29 unpatented claims - 580 acres
? Redcastle Property – 30 unpatented claims - 600 acres
Redcastle is along strike from the Iron Creek Mine being developed by First Cobalt who purchased the property for C$149 million in June 2018.

It is not unthinkable for PXC to get bought out. That would be a great outcome for investors...;o)))

Don't follow the advice of anyone who invests in UKOG. They are not a good example to follow !! At this stage nothing is certain hence why the SP is 37.5p. Good investing is about educated forecasts, seeing a bargain, a bit of risk and a lot of luck. Future valuations are a ball park figure at this stage but for me they are significant enough to warrant the risk ....;o))

sorry..sold in 2018.

The Cobalt prospect could be worth $150m +++ that is what a nearby mine sold for in 2016...;o)))

Looks like MM worked a sell. Off we go now please, when you're ready...;o)))