RE:FlorenceJust got to Prescott, saw the mine site and got an interesting presentation from Dan and Stacey.
There was some questions areound the 30 day appeal process. The 30 days is up and there aere two appeals put forth, one by a land speculator who owns adjacent developing property. Not sure what he thinks he is going to develop as nothing but dessert, he may just be trying to milk them for some cash. The other appeal is from the Town of Florence. It appears they have local support even though the Town is appealing.
Dan and Stacey both feel confident about getting approval though but they are still at least two years away from production. There is still some environmental and permit issues to be cleaned up. Once the red tape is out of the way it will be about a year of getting the mine to the production state. The infrastructure is on the property but construction is still at least a year away.
The good news is the injection recovery type mining is a very economic type of mininig.
Cost of production is estimated to be $1.10 per pound all in.
It is a two stage type process and no smelter invovled, the copper plates get shipped right from the property and they are 99.99 % pure copper. They had a sample one there and it was about 80 pounds.
There is a 20 year min life, there will be 2400 built on the property over that time and they paln on taking out 85 million pounds per year once in production.
There will be a new 43-101 coming out very soon and will update the numbers.
g