RE: RE: RE: 2011 BFSYour truthful about not being an Expert so thank you for that. You Imply ES's word is like Gospel. Have you ever seen a CEO who did not present the best case scenario ? That's his job if he wants investment money. It has been said it's high grade, It's not ! Results like these can be considered Hi Grade. https://www.colombianmines.com/i/pdf/2011-11-25_NR.pdf There are many mines operating in Columbia. The new Govt has made it a much safer place than before. South America is the Cheapest mining area in the World. South American Copper company is said to be the Largest in the World. That says it is safe and profitable to be there. There are also many more exploration projects in safe places around the world with higher grades than Shaft creek.
It has been promoted as being Canadian it will be bought and developed. That is another fallacy. Canada is High cost mining due to Labor Unions, Transportation, Terane Access ect.. It has to a desirable net back. The BFS will indicate that at present day calculations. Then fold in the world economy projections. There may or may not have to be further studies when it is released before decisions are made.
There was a 4 year clause suggested that has not been proven either way. If there is and Teck does NOT back in. Then C/F inherits that clause. A news release said it was to big for C/Fox alone. What happens if that part of the agreement is not met ?. If it does exist. Do they forfeit their rites or what other penalty exists ? ES says they will not be involved or a partner by the time the mine building takes place they want to sell. Will they sell at a lower markup in order to unload that clause ? Who would pay a large premium for a clause which is all but impossible to meet ? If anyone thinks there can be a mine there phone Elmer and ask the direct question "Can or will there be an full operating mine here in 4 years ?" I will bet he will tell you no.
I honestly believe there will eventually be a mine there. (2017--2020) but there are lots of questions which may have an effect on buy out value.
The most dangerous of unknowns is the ones you think you know that you don't. Those things you take for granted which have not been verified