RE:RE:RE:RE:Valuation of infrastructure on site?Stephen attending Mines and Money Americas for a reason !
Mines and Money Americas
September 28 - 29, 2016
The Ritz-Carlton, Toronto
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Mines and Money is the leading international event series for mining investment and capital raising.
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When a company wants to develop a mine, one of the first steps is to issue a preliminary economic assessment (or PEA) that lays out some key parameters, including production and cost estimates. Later, the company completes pre-feasibility and bankable feasibility studies that provide much more detail.
Rubicon raised more than $543 million through equity offerings ! Integra is only looking of $80 Million !
These studies cost millions of dollars and can take many months to complete, which is frustrating for a junior company that is rushing to get its first cash flow.
Rubicon skipped those two latter stages. It went right from the PEA to construction, raising hundreds of millions along the way.
Skipping the feasibility stage is not unheard of, but it is highly unusual. Canadian miner Tahoe Resources Inc. built the Escobal silver mine in Guatemala out of a PEA, and today it is the world’s third largest silver mine.
Integra would be worth a lot more with a operating mine,, as Stephen pointed out in his presentation,, “they are working on some other things” and that could be financing $60 to $80 million to build a mine ! IMHO
M2