PDACI was at PDAC this afternoon. Some interesting info ...
- Permit all but a foregone conclusion now. It is unprecedented for The Water Board to countermand an MVEIRB decision. (timeline 2-6 months). I would bet on the latter since bureaucrats are involved.
- ALL existing resources to be updated to reserves by end of April (10yr + mine life)
- In talks for financing, probably dependent on reclassing to reserves. ($130M +/-)
- Negative - need to re-permit the next 5 deposits as a group. Positive - can do it while they mine R-190.
- Existing metals prices yield 95% + IRR.
- Production possible end of 2009 ( more likely early 2010 by my count)
I'm hoping for a dip to pick up some more.
hockeylad33