BNNCatherine McLeod-Seltzer was on BNN yesterday.
My notes:
- offers extreme leverage to silver
- 2 large silver discoveries
- in total over half a billion oz in our resources; 250 million in reserves
- economic studies say we can develop 15 million oz per year
- net asset value is over 1 billion at today's silver price
- market cap 170 million
-Santa Ana is the smaller deposit (capable of producing 5 million oz per year) captial 50 million, cost $10 per oz, IRR is 80% at today's prices, net asset value is about our market cap today so you get Corani for free
- more reserves than PAAS, CDE, and HL
- some base metal credits
- open pit
- infrastructurally blessed - near power, roads etc.
- Peru has a mining history centuries long with a clear permitting process
- silver has a higher beta than gold, it could outperform
- financing - not in the very, very near term
Santa Ana - could be in a cash flow position by end of 2011
Corani - perhaps a year after that we could be starting to see production from Corani