What I Say, eh !!!Infill results announced today meant nothing to the market. This dog still has fleas. No one wants it. The recent dog-and-pony shows in UK did nada to the stock price. Shareholders need to recall the late Howe-street legend Murray Pezim from dead. The "Pez" was famous for penny stock promotions, and these Coro guys just couldn't cut it. Coro-style copper play is for the birds.
Kidding aside, we know in Chile, the average ore grade for most copper mines is now 0.5% CuT - very low grade from high of 1% or more decades ago - but the tonnage is massive thereby making Chile the largest copper producer country in the world,
For instance, Marimaca deposit has the same geological genetics as the nearby Mantos Blancos mine. In late 2015, Anglo American sold Mantos Blancos and another end-of-life Chilean mine Mantoverde to UK hedge fund Audley Partners for USD$300 million cash with an upside of USD$500 million total payout based on some earn-out formula. Mantos Blancos production in the 1st half was 29,000 tonnes and Mantoverde was 23,800 tonnes. At 31 December 2014, as stated in the Anglo American Annual Report 2014, Mantos Blancos had a Reserve Life of ten years and Mantoverde a Reserve Life of five years, with both mines offering life extension opportunities.
So, COP's expected production of 30,000 tonnes per year with a reserve life of 8 years is in line with the nearby Mantos Blancos. The upshot is if La Atomica is connected to Marimaca, Coro Mining is off to the races with huge addition to its reserves and life extension. The market might wake up then.
As I posited before, the only exit plan for Greenstone would be to sell the Company out for quantum millions to some major miner looking for copper resources. Coro insiders can also cash out big exercising their cheap options, and tendering their stock.