Bottom?Does anyone see us moving up appreciably until PDL signs on? I don't think we are imminentt on any acquisitions and so the only thing that should move us up is if someone recognizes the value here....and oh my gosh, decides to buy some. Value is a dirty 5 letter word, eh?! That other dirty word, 'patience' will win out in the end, be it from PDL or Kores doing the deed....as long as a big hole doesn't open up and swallow the near surface Shakespeare reserves no one can take that away from us. Darn that ol' 'patience' it always takes time!
Once they have the smelter deal, they'll know what the sales price is or at least how the sales price will be calculated Then someone will have to figure out what the costs side of the equation is in order to make the decision and to go forward with financing. They are continuing to tweak the models figuring out the best combination of mill TPD and associated capital and operating costs.... I've been sufficiently worried about Ursa to have called a bottom this week (all the while not peeling any off) so I believe this to be the 'all clear' signal, aka bottom. Lol, anyone can feel free to inbox for my free contrarian indicator.
A few other thoughts, once a mill is built there is the possibility of a third party milling deal. I don't know if anyone has any reserves or properties nearby that could be interested and would have a similar type of rock.
I think Richard will have to check a LOT of properties out before they will be able to do a deal. I wouldn't hold my breath for an acquisition because the Koreans will be methodical and be sure that it is a good deal and this is a great sellers' market. Mainly though Richard isn't ready to do some BS deal for the sake of a promotion. Everyone wants to build a REAL company here, so that's why patience is gonna be a virtue.. Kores has been officially on board for six months now and there is no pressure from Kores.