If we can ever get the permit - perhaps $.10+ shortly after It is taking forever.
A lot of additional shares will be put on the ``ASK`` once the mining permit has been granted, due to increased liquidity. However, for now, not all that many shares are up for sale on the ``ASK``, up to $.10.
``BID`` - 2,424,000 shares between $.01 and $.03
``ASK`` - 783,000 shares between $.035 and $.10
Perhaps the arrival of the permit, whenever that happens, will allow us to trade above $.10 again. We now have an opportunity to own more of the project, with the option to increase our ownership to 67% of a producing mine.
The copper price has come down due to the US $ strength and the global slowdown. However, the oil price has decreased substantially too - over 50% decrease since the mining estimates were formulated. Energy is a significant mining cost component. As such, the decrease in cost per unit of production should partly compensate for the copper price decrease (though, not fully). Once mining permit is granted, there will be an additional 7 months or so before the mine is producing. Copper prices could increase back to better levels within those 7 months.
First thing is first, I hope they get on with giving us the permit soon.