Gold Report interview with Andrew Kaip Nobody mentioned this blurb in the Gold Report interview with Andrew Kaip, managing director of mining equity research at BMO Capital Markets. Thought I should share with you fine people.....
Bear Creek Mining Corp, which operates in Peru. Besides MAG silver, it has the best-quality assets of any silver junior. It has a very large silver reserve—over 500 million ounces (500 Moz)—relative to its market cap of $86M.
It has two projects. Santa Ana was frozen by the Peruvian government. This is now the subject of an international arbitration, one that I believe Bear Creek has a very good chance of winning. Its second project is Corani. This has Proven and Probable reserves of 228 Moz silver, 2.77 billion pounds (2.77 Blb) lead and 1.47 Blb zinc, at a grade of 51.6 g/t silver. According to its June feasibility study, it has a 20.9% after-tax internal rate of return and a $660M net present value. Mine life is forecast to be 18 years, and the sustaining capital expenditure is $667M. In this market, finding financing will be a challenge. I think Corani will need to wait for a more positive view of the future price of silver.
Read it at:
https://www.theaureport.com/pub/na/bmos-andrew-kaip-the-gold-majors-are-back