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Sotolo, i have it as just under two thirds gold at todays price, altho with new Pallancata mine expected in 2027 and a silver price spike it could be a lot closer between the two in the future
I think historical it was, but as of auag prices today we are mainly a gold miner.
Inmaculada (main mine) is currently around 70% gold.
Pallacanta - in care and maintenance till new permit in 3yrs at current prices about 70%silver
Mara Rosa - is all gold (about half the production of Inmaculada, i think, but at lower cost)
San Jose - is small and i think its around 50/50
The recent Monte Do Carmo project is all gold.
Then there a couple retired mines that are not economical to mine at the moment that are mainly silver.
please correct me if im wrong ;)
Folks, I'm a bit of noob when it comes to PM mining, can you help me?
What production numbers should we be expecting in 2024? I should imagine many factors go into production rates, the below are based on current year production extrapolated for full year. Do they seem reasonable numbers?
Inmaculada, Gold: 124k oz Silver: 5,146k oz
San Jose, (51% so taken half of production) Gold: 35k oz Silver: 1,941k oz
Mara Rosa, Gold 80k oz
I also believe CPM group have 2024 forecasts of around $2300 oz for gold and $35 oz for silver. They have a fairly decent long term record in forecasting PM prices. Thoughts on the likelihood of these prices or alternative price predictions for 2024 would be appreciated.
On the above sets of assumptions along with only modest cost increases (again thoughts on this appreciated) I'm estimating pre tax profits of $240m.
Last couple of questions, if were to see substantial prices rises in silver would the veins of 22-23 in Pallancata be reopened? im aware of the newer veins at the site they are hoping to mine in the coming years.
How much weight can we put behind the Volcan Gold report? I had a quick glance and the numbers look great I understand its size its a stretch for hoch, but if their numbers are to be believed its surely worth a fair amount even if hoch was to sell a majority stake in it. HOC seemed to only be traded down on the news which I can't make sense of.
I am I right in thinking the effective tax rate in Peru is like 45% for miners?
Any feedback appreciated, thanks.
Does it always mean something? Stock valuation fluctuations often seem to mean relatively little to me. If there was insider news out but not reaching us would the volume trade not be higher?
Difference being, mining activity stops in the meantime?
Didn't need another reason to hate maoists haha. Hopefully any issues can be sorted with some local job postings and the mine permit gets extended, concerning how long this has been going on. No wonder their keen to expand portfolio outside of peru
The average income in the area is i think under 5k usd, I just seems really hard to believe any environmental impact is significant enough warrent closing the mine.
I'm a novice on the subject, am i right in thinking the issue isnt use of fresh water but more any run off reaching nearby (small) rivers.
Also Sotolo do you believe the opposition to the mine is coming from Lima or from the locals? Thanks
Forgive my ignorance, but what are the environmental issues exactly. at a quick glance the mine seems to be in a desert like environment which is barely populated (looking at the wiki page the population of the region is 24k from 6000km^2 or 70X as scarcely populated than the UK). I'm guessing the main issue is pollutants running off into the river systems. Could someone clarify?
Just struggling to understand how environmental concerns could be holding up a pretty significant economic operation, in a relatively poor economic region (70% poverty rate according to wiki)