RE:RE:Steve Twyerould's Year End Progress ReportGlenred, others on this Board may have different opinions about MIN's pricing but I think it's a reflection of a cooling off of the bull market we've experinced over the last several years primarily as a result of concern about the overall continued growth in the global economy, particularly China, and what that may mean for base metals like copper.
That, coupled with the related trade and tariff concerns, is taking a heavy toll on the mining sector. In a previous post I mentioned that many of MIN's big brothers in the industry are also down 40 to 50% off their 2018 highs. Take a look at the charts of FCX, RIO, SCCO, GLEN, TGB, etc, for example.
In-situ mining may be of concern to some but I don't count myself among them. It's been proven successful elsewhere and no one has pointed out to my satisfaction, at least, any geological, hydrological, or other scientific reason that it won't work.
Regarding cost overruns, if they occur, MIN appears to have more than enough in available capital to overcome any overruns. Upon full drawdown of MIN's financing commitments, there will be close to $100 million in cash available for the project.
Would anyone else care to address Goldred's concerns?
As always, everyone is encouraged to do their own due diligence.