Building the Mine
How could CNC have the knowledge, skills, ability & capital to build a $250 million CAPEX mine but not an $800-1,000 million CAPEX mine? "It's too big". By what standard? Why are Juniors capable of building $200-300 million CAPEX mines night & day but "need a major" to build something bigger? It is not the money. This isn't your typical 500 million share outstanding $0.45 share price junior. They have all the tools they need to raise as much as needed for CAPEX without a partner, including a major partner. So money isn't the obstacle. They will pay for an engineering study to design the mine & the timetables of construction. So that isn't the obstacle. It appears there will be no objection by First Nations. There is nothing to indicate environmental permits will not be granted in due time. So what is it exactly that makes this project undoable by CNC, requiring a major as partner or a buyout? It might be shoved down our throats with hostile moves to accumulate shares & voting rights, ramming a deal that's good for a few & bad for the rest. But there is no logic behind saying it takes a major to build an open pit mine. That of course will be the major's pitch point, "You need us, you can't do it on your own". Every major started out as a pizz ant somewhere along the line, there is nothing sacred about them or what they do. Ordinarily, Pender street pina colada drinking management would be begging for a buyout or partner, because it is the only way forward. That is definitely not the case here. Yes, a buyout is likely & if it isn't juicy that's just the way it goes, the big holders can vote for a quick buck & be done with it. In risk management, it is just as important to plan for success as failure. In this case, success means build the mine, without a major taking half the pie.