RE:New Report Had literally just spotted the report myself... Its got everything in there but main part for me was the below. Although it did say that if support doesn't hold at 1.80s its heading to 1.40s (doh!)
"If Rio likes the results of the feasibility study, it is possible, that it will try to gain control over Western Copper and Gold as soon as possible. The reason is that there is another potential acquirer. Newmont (
NEM) owns a large land package right to the north and north-west of Casino. The Coffee gold project lying on the property cleared an important
permitting hurdle only recently. By the way, also Newmont hired Hemmera to manage the environmental process.
And also Agnico Eagle Mines (AEM) is present in the area. To the north-east of Casino lies a large land package controlled by White Gold Corp (OTCPK:WHGOF). Its main shareholder is Agnico Eagle Mines which owns a 19.7% equity stake. And Kinross Gold (KGC) is the second-biggest shareholder, holding a 15.8% equity stake. However, in my opinion, given the fact that Agnico only recently completed the merger with Kirkland Lake Gold, and Kinross only recently acquired Great Bear Resources, these two companies are less probable acquirers than Rio Tinto or Newmont.
But it is important to remember the high initial CAPEX which was estimated at $2.6 billion. Moreover, it was nearly a year ago. In the current inflationary environment, the feasibility study will probably present an even higher price tag. This may mean that the big players in the Casino area will join their forces. Rio Tinto is primarily interested in copper, while Newmont, Agnico Eagle Mines, and Kinross are primarily gold producers. Therefore, some form of a JV between Rio Tinto and one or even several of the gold miners would make sense. Each of the partners would gain interest in a multi-decade world-class copper-gold project located in a safe jurisdiction, and the development risks, from the standpoint of individual companies, would be more acceptable."