RE: valuationWondering what the expected life of the mine would be?
Also, AME states the following on their website:
The Existing mine infrastructure
Independent evaluation of existing haulage roads, mill buildings, mechanical shop and tailings pond puts deemed value at $33–38 million.
Fast track to 2010 production:
- Economic studies move forward based on all resources
- Feasibility study by year end
- Additional resource at Ajax East due in 2007
- Aggressive drilling to expand 4 other known copper gold zones
Why would 2010 be the date for production? With a mill, roads, tailing pond in existence, what is preventing these guys from opening tomorrow? Are new permits required for this property? I've been an investor with ROK for about a year, they had to bring in old mill from the States and rebuild it and build their tailings pond and it took them just over 1 year from start to production after all permits were gained, and AME already has the mill and pond in place. ROK also started their mine with known resources while drilling to expand, why wouldn't AME do the same? What is their projected capital costs if all infrastructure is already in place? This hesitation to start the obvious is why I think investors are hesitant to buy in big- if management cannot make the jump, why should investors?