Banca I.F.I.S Spa BNCIF

Refinery and mill

[newsimon1707]

Hi guys!  long time no see!

After reading what I missed on the boards, here is a small recap of different info on CSK

They tried to buy the refinery before with Yukon, Yukon pulled out... the australian were also implicated in the deal... but manage to pull out some strings to get rid of CSK...

The poor thing is that from what I heard, the first negociations were giving a value of 4-5 million to the refinery without any shares in the deal... the australian played CSK... and ended up paying 10 millions with FCC plus a ton of shares!  These guys are gonna be on the new board of FCC!

The refinery is useless...it's the permit that is the only asset... they also have the permit and a line to process arsenic... they would be able to generate revenues with that...

But, the refinery was poorly built... the problem is that it is design in a way that you can process a batch of material and you need to process completely all the material from A to Z before you can start another batch.  So it's not a continuously operation where you can feed the entry constantly and have an end product at the end. 

Not convenient at all... 

The numbers I have for the refinery to be operationnal are huge... 25-35 million... plus they paid 10 million $, plus they've issued tens of thousands of warrants... imagine the price they paid for a useless building... but for a permit... not sure it's a great great buy!  Remember, we are a still a jr company... that will put around 50 million $ in a refinery...!

For the CSK mill... once again, it's permitted for up to 500 tpd... but, if for the refinery, what you need is 25-35 million, plus the 10 million to buy it and all the dillution... the CSK mill is 100% to them... nothing to buy... they have the permit... and it needs between... 200-300K $ to be operationnal!  You've read correctly!  200,000$-300,000$ to put it back on... and start to produce money, revenues and profits!

I had my numbers checked by a geo... the value of the tailing pound, trench and mock material is 510 million $ CAD for CSK... profits are over 200 million after tax over 10 years...without even puting a new drill in the ground...

This is why I say we got bought out for peanuts... and a CEO with more vision, that wouldn't have want to move on on bigger projects would have work it out... but I guess 20 million net profits for a guy that built Timmens gold is tiny...

CSK would have done well by it self!

They should have let me know, I would have taken his spot!