RE: 58p PAID28 Mar 2022 11:18
Yes I known I paid 58p!
As well as news TA taking us to 70p then pulls back to 60’s. All looking very bullish. Permits not far off and there is more financing hints in the chairmen’s statement.
Do note the word ‘should’ though, just in case folk think I am ramping it…
“ Regarding the timetable and funding, I am happy to report that several US, as well as other investors, have expressed interest in participating in a debt instrument to fund the entire capital expenditure needed to put the Empire open-pit mine into production. At $4/lb copper (the price has recently been as high as $5/lb), our current preliminary economic assessment model shows revenues in the first 12 months of production of over $100 million, significantly higher than our estimates for pre-production capital expenditure. This should enable us to keep our promise of getting into production without issuing further equity. Further announcements on this will be made in due course.”
If they get the permitting which given the ESG and very low carbon footprint + financing with no dilution then the metals value will be recognised in the sp. The SP imo will be well over 100p!
Do you know they even plan a sky rail to move the ore down that generates electricity at a net surplus to what the mine needs! And the heavier descending trucks pull up the lighter ones.
This has the makings of a flagship ESG mining project.
I was more than happy to pay 58p. I added 20k shares today. It’s not what you buy em for it’s what you sell them for after that matters!
Usual caveats
Trek
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