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RESERVOIR MINERALS INC V.RMC

"Reservoir Minerals Inc is engaged in the acquisition, exploration and development of mineral properties in Serbia, Cameroon, Gabon, Macedonia and Romania."


TSXV:RMC - Post by User

Comment by rob926on Nov 16, 2013 2:55pm
186 Views
Post# 21912914

RE:RE:RE:RE:Freeport pulls equipment out

RE:RE:RE:RE:Freeport pulls equipment outIf I was Freeport I would make a move soon before there is to much value creation, and if I was Reservoir I would hold out until I knew as much as possible about the current discovery as well as any potential new ones. I am still in the camp that we are more at the beginning than the end of this story. I have been told that Freeports average in the past is 13 years to do a BFS and at a cost of about 1 billion dollars. Our joint venture agreement gives them 10 years and we have 7 years to go. Serbian law gives them 7 years from discovery so they now have 5 years left. It has been quoted in the news that Freeport will probably take around 2 more years before they decide if this is going to be a mine for them. They only operate 4 other sites and all world class hopefully this one ends up being #5. All things all still looking good and insiders are not selling yet. 
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