Knock, Knock!!okay, a night of rest always let the wild guesses and positioning of brain waves to allure toward the big sharks on the planet...
On Aug 19th this year on this board it was discussed that Anto....was positioning themselves to own this company...never did my thoughts go to a point of just 96 million though...so with them trying to take out DM for this bismal amount...and DM had hired some big guns from NYC to find alternatives................................
Is this just a ploy of DM and Anto to flush out any other players that may want this deposit
from the pre feas....
13.3.1 Platsol™ Testwork
Early testwork on the Maturi and Birch Lake deposits reviewed the use of Platsol™
technology for treatment of bulk Cu/Ni flotation concentrates; however, this recovery
method was not progressed through the PFS. For completeness, a summary of the
results of the work has been included in this sub-section. Platsol™ is a hightemperature,
chloride-assisted, pressure-leaching procedure.
By the end of 2011, almost 70 individual bench Platsol™ tests had been completed on
several different flotation concentrates, with results indicating that Maturi and Birch
Lake concentrates are amenable to Platsol™ technology extraction and recovery:
typical extraction values from bulk concentrate are 99% for Cu, 99% for Ni, 90% for Pt, 90% for Pd, and 85% for Au.
over the years there was work with TECK on their process of extracting the metals from the ore....the ones that have been looking at the PLATSOL are Polymet and Dr David Driesinger with this discovery...the science is there with repect to this process. That being said...
The CAPEX is to massive for DM or Anto to try to develop this project all underground...IMHO...and with the minute IRR just released...the market spoke.
So the sheep that were counted prior to the fluffy clouds....allows me to say that Anto and DM are specifically tossing the 96 million number out there to attract Glencore...they are establishing a starting point of a bidding war that will unfold in time.
This deposit is a tough one for many reasons...but at the end of the day 96 million is bad math.....I am saying, as she sits, years away from mining and a big fight to get her threw environmental permitting to final permit to mine...she is worth much more....the number is open for discussion...but it for sure is north of here and south of 1 billion...lets go East and say Polymet is worth 300 million valued now, at market prices...open pit...and further along than DM for sure...but a smaller deposit overall.
What should happen, and will IMHO is that Anto, should this deal go though(doubt it a bit at this price) is to excavate the ore and transport it by a short new rail line to Polymet. Polymet will only utilize 1/3 of the capacity at the mine where my father used to work in the 60's...back then she was Erie Mining Co...back to Anto bringing the ore to Polymet...the crushers can handle 100,000 tpd and they just need the dust knocked off, the power switch flipped, and the heat ramped up...this is a viable option.
Knock, Knock.
Who is there?
Glencore.