RE:RE:RE:RE:CNC SND SPRUCE RIDGE
I see zero value in the projects they let because they won't be developed & who would buy them? Their marquis project, Great Burnt, has a net value after tax & all operating costs of around $25 million USD. That's not counting the CAPEX necessary to start things up. So you believe the CAPEX would be less than $25 million? The point is, it isn't worth getting out of the ground. No major or minor is interested in buying a resource that costs more to get out than it's worth. Colorado & Utah are filled with bonanza silver reserves, that cost more to extract than the revenue generated. One of their other "projects" is mine tailings. Yes, they could squeeze a few million out of that, divided by 165 million fully diluted shares. Some junior Canadian miners play a game of what could be, if we had CAPEX, a partner, better recovery, & on & on to infinity. That is pure fantasy to attract new naive investors. I don't invest based on fantasy. If you can't get it out of the ground for less than you sell it, you don't have a reserve, you have a resource, with zero NPV . I expect Spruce to hold their CNC until full production is reached, making Spruce worth somewhere between $1-1.5 USD. That is a good enough reason to buy.