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Nuveen California Municipal Value Fund Inc T.NCA


Primary Symbol: NCA

Nuveen California Municipal Value Fund, Inc. (the Fund) is a diversified closed-end management investment company. The Fund's investment objective is to seek current income exempt from both regular federal income taxes and California personal income tax. Its secondary investment objective is the enhancement of portfolio value. The Fund invests in municipal securities that are exempt from federal and California state income taxes. The Fund invests at least 80% of its managed assets in securities rated, at the time of investment, investment grade or, if they are unrated, are judged by the manager to be of comparable quality. The Fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. It also invests in inverse floating rate municipal securities. Its investment adviser is Nuveen Fund Advisors, LLC.


NYSE:NCA - Post by User

Post by aweighon Oct 05, 2016 4:26pm
124 Views
Post# 25313753

I don't think we should underestimate the value of our

I don't think we should underestimate the value of our permits either. There are lots of great resourse plays that aren't advancing as fast as they might for the lack of permits. We are permitted to mine at a rate of 9,000,000 tons a year and if we can prove up a resourse, call it a start up resourse at South Domes @ 1 gram a ton we could be producing 240,000 oz per year based on an 80 % recovery. If we could prove up a resourse of 1.5 grams per ton that's 360,000 oz per year. 
Now I doubt we will get up to 9,000,000 tons per year in the first year or two nor do I think we will build a resourse for the entire life of the mine at 1 or 1.5 grams but we could easily get up to 4,500,000 tons per year at 1 gram and produce 120,000 oz. + and be highly profitable and unless I misunderstood him, Mr. Panneton seems to think that 1.5 grams is doable.
I think if we start drilling again at Southdomes and we continue to pull more holes like the last 2 the stock should really get going .

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