RE: New report on TAM What a deliciously incompetent "report". Gems like " The latest Feasibility Study posits that the price of Zinc can fall as low as 49 cts per lb before Pine Point would become unprofitable" show the gross incompetence of the author (does he really think the mining costs are all that determine break even?? How about refining costs???). But it is fun to read in places, especially the comments about Peggy and her "experience" running companies in BK.
One thing I didn't realize is that the current CEO (Willet) isn't on the BOD - an extremely unusual situation - something I can't remember ever seeing before - clearly shows that Willet is CEO in name only.
And the FS only has 10% contingency? That's a laugh. If they can get it done within 30% of their base numbers, I'll be impressed.
I also loved the author's expectation that Zinc will zoom to $1.50 lb - and then ran all his numbers based on such ridiculously optimistic prices. Why stop at $1.50? Why not say $3 Gazillion? Both are just as likely.
Got to love the 2 man shop PK had to stoop to get "coverage". Two has-beens pimping themselves for a few shekels - gawd, what a sorry group of losers Peggy attracks (and has to pay).
"Pine Point - Ready for Financing" LOL !!!!!!!!!!!!!!!!!!!