RE: Strangely quiet here, considering...Great post, I was thinking the same thing.....look at spot prices from TAM website:
| Metals Spot Prices |
| Metal | Zinc | Lead | Copper | | Bid | 0.7161 | 0.6585 | 2.1679 | | Ask | 0.7207 | 0.6630 | 2.1725 | | Date | May 07,09:01 | May 07,09:01 | May 07,09:01 | |
IMO the magic # is $0.70 lb Zinc, which is over cost + capex (.49+.19=$0.68) I don't remember off the top of my head what price lead credits were to get .49lb cost on Zinc (.67?) we are in that range IMO. 8 billion lbs of known zinc and lead with huge exploration potential. With Pine Point only needing 130 million to get into production (small number IMO when it comes to 20+ year mines) I am hoping that they can get 90% in debt and instead of all equity, option some or all of Los Pinos. Los Pinos was deemed economical at $0.90 lb copper, 25 million lbs per year for 10 yrs on historical drilling. What is it worth? But I feel better in the fact that Peggy and Ross purchased more shares, so that they have a little more skin in the game when it comes to dilution. Or maybe the question should be what would shareholders of TAM accept on a buyout offer? GLTA