More brain farts from our "expert"After being called out on the numbers by moneyk, one of the few people not falling for his mumbo jumbo, he is saying that “the numbers aren’t that important other than there aren’t statistically different results from TECK and new PEA numbers”. What world does he live in where numbers are not important? He is lucky stupidity doesn’t hurt or else he would be on morphine right now LMAO! Of course numbers matter. I can already see Don asking: Hey Elmer, what number would it take for us to relieve you of your SC interest? And then Elmer would reply: numbers are not important, just pay us with some shiny marbles and monopoly dollars. The "expert" forgets again to mention the purpose of SC PEA is not to compare those numbers with TECK 2019 report numbers but with 2013 FS numbers and they will be statistically different by a wide margin.
Here is another pearl of wisdom from the “expert”: “A range of sale values will be estimated by comparing the sales of similar properties over the past number of years.” In the past number of years copper was around $2 USD per pound, no $1.9 trillion to be spent, no sustained push for green energy, no exponential growth of electric vehicles, gold price a lot lower. How can you compare that with the current environment? That’ll be like putting up your house for sale today based on house prices from 5 years ago. Who would be that stupid to do that? A great example is the acquisition a couple of months ago of Kisanfu deposit by China Moly from Freeport for $550 million USD. China Moly had the opportunity to buy the exact same deposit back in 2016 for just $50 million USD and they passed on it. Why did they pay 11 times more now for a deposit that wasn’t worked on at all since 2016? Because prices change based on current conditions, macro picture.
Another poster asked him point blank what does he thing SC deposit is worth and obviously he refused to give a straight answer. And here is why: if his valuation would be above 15 cents per share, then he would look like a fool for selling his entire position too early. If his evaluation would be below 15 cents per share, then even the lemmings would laugh at him with share price at 40 cents.
And here is his latest “gem”: “…will the SC project be attractive to a buyer given the 8 years it's been on the shelf since the JV was formed” This is the perfect example why an IQ test should be mandatory before one should be allowed to trade stocks on his own; if that were the case, our expert would only be allowed to trade pokemon cards LMAO! There was lots of work done on SC and the project advanced significantly since 2013. If it were on the shelf, then the only current document would be 2013 FS. Many studies were done in the last 8 years that resulted in 2019 TECK report which was the basis of the latest RE and soon to be published SC PEA. Those are all tactics to lull everyone into thinking that nothing was advanced here and not to expect too much of a premium in the event of a sale. But like the Kisanfu example above, even deposits that were indeed on the shelf with no work done can increase in value 11 fold.