That was a wild ride for CoroThe only thing that I came away today with Coro was that what's it going to take to shake the sellers. I sure hope a mining permit might do it. What I can't figure out is why all the selling. Anonymous and RBC were the major sellers. coincidence or organized? Call me suspicious. Here's the numbers again and somebody let me know what I'm missing other than they don't have the permit but with the latest press release it would infer that they are getting really close.
Here’s the numbers from the latest press release. 1 metric ton = 2200 lbs. So 39,500 metric tones of copper =86.9 millions lbs. I’ll be conservative and use $2.50/ lb for copper so that means 217 mil dollars in copper per year. 39000 Oz of gold and my bet is that gold will beover 1000 bucks per ounce so I’ll use 1000 bucks. The gold will sell for 39million. Add them both up 217+39 = 256 million bucks. That pretty well covers the 277 million initial project investment. I have no idea what the cost will be to operate the mine but there's no doubt in my mind that they will make a pile of money.
On the plus side at least we shook some weak hands from Coro.
BTC looked really good today. Gold looked really good today. I do believe the trend boys call it making a base but who knows. Since I'm the half full kind of person I will take a wild guess and say that when gold moves again it will rocket but that is just a wild guess. If by then BTC hit some half decent results @ Copper Hill then in theroy they could rocket also. If Coro get the permit then they could rocket even more. If Coro hits more high grade at Llancahue then it could rocket again. It's been a long time coming but I do believe BTC is on the cusp of making a major move similar to today but with a bigger bang. Poor old Ridgeback and his MAR will be left behind in the dust. By the way Ridge, BTC is still miss Canada in my books.
JMHO
MM