RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Watch the Hype
FPX released a PEA with a post-tax NPV of 1.7B USD, before accounting for the Van target they're about to drill or the iron ore byproduct. Institutional money entered into a heavily oversubscribed bought deal slightly below current share prices, and they're fully funded to deliver a PFS and then some. Seems promising to me, but apparently your mileage varies.
CNC has some legs and is probably a wortwhile investment. Super curious to see where their (twice-delayed) PEA comes in at; hopefully we'll have an NPV by end of month. On one hand, proximity to existing infrastructure allows for a lower initial capex. On the other, a much more complicated metallurgical flowsheet (including smelting which necessarily eats up ~1/3 of revenue) means that their opex will be higher than FPX's . I see a lot of hype with CNC and will remain skeptical that Crawford isn't just Dumont 2.0 until they put down some hard numbers in a technical report.
GIGA is the worst of both worlds. Even more remote than FPX with the complex metallurgy inherent to sulphide deposits. The negative NPV in their PEA speaks to that.
Good luck holding this for 30 years.