Strange - Someone else gets it!!
Maven Mondays In The News: NexGens Resource Stuns, Silver Standard Buys Claude, Lundin Moves on Timok, Endeavour Buys True Gold. On The Macro: From PDAC, What To Do. What a week it was! Another PDAC is in the books. And a good one. It was undoubtedly small - fewer booths, attendance of just 22,000 compared to an average of 29,000 over the last five years - but the buzz was inarguably better than last year. I comment on my PDAC impressions after going through the mining news events of the week. As usual, news flow ramped up during the world's biggest mining conference so there was lots to talk about, and all I got to were the four biggest stories. Others also deserve comment. Canamex Resources (TSXV: CSQ), for example, published a PEA showing how they could turn their Bruner gold project into a 46,500-oz.-per-year producer for a capital cost of just US$33.4 million. If built the mine should be able to generate a 39% after-tax internal rate of return and operate for six years. It would be a simple oxide heap leach operating on patented land, which eases permitting considerably. Those are pretty good numbers. The asset and company are small for my tastes but Canamex deserves credit: it not only survived the bear market but advanced its asset to the point where it supports an economic PEA. If the team can now establish a path to production, starting with accessing the cash needed to take the next step, its share price may well respond. This is, after all, a simple gold project in Nevada, one of the most desirable mining jurisdictions in the world. That's one example of interesting news. ---------------------------------------------