Gamble 2.0 - What's in store for usHi all.
I gambled again today with a bit of money. So that little spike today at around 1300 hrs…that’s me. By the time of writing this email I already lost 800$ due to the fact that the price already went down 2% (just on todays trade).
However now here we are. The price is down significantly due to China jitters. Yes China is slowing down. Fed still to make its announcement today. Things are not going well for III – they are still burning money.
The big so what and why gamble (remember its my money and my opinion).
- Price of copper is still above 4$, this is vital to the operation and stability of this mine (even though it was vetted initially as profitable above 2.5$ mark,
- Gold is recovering today, and going up – part of the reason we seen pressure on the price III is that gold is below 1800$, this does not bode well for III.
Now for the gamble – III and NC were to release the cave study by 30 Sept – at least which is what was assumed. The trinkets of information provided from NC to this point pointed to this project going the way of CADIA (a billion dollar NC assets). So we got excited. A viable Cave report would increase the value of this mine exponentially – big big bucks…….and here is the problem….and gamble….it costs huge amounts (like cosmic) to develop such a bad boy (or girl).
Can III do that without selling the remnant of its soul? Highly unlikely.
Worse case scenario – where we all lose our money – is if the Cave study finds ( that it cant build / dig a cave) such a proposition unviable. In other words the mine is a lemon….yeeh sure you got tons of copper and gold ….but so what when you cant operationalize it and profit take.
So let the dice roll……I am looking forward to the end of September jitters.