MY OWN THOUGHTS - 2019 - Zacks assesment - write up on - Braveheart + Bull River Mine.
This one is different - i never came across this one - and....
I wish i did it would have saved me an enormous amount of time reading all the historical tech reports...ugh.
This Zack report covers all the bases.
https://www.google.com/url?sa=i&url=https%3A%2F%2Fs27.q4cdn.com%2F906368049%2Ffiles%2FNews%2F2019%2FZacks_SCR_Research
_08262019_V.BHT_Ralston.pdf&psig=AOvVaw2myQlgIler2xq6eZPbWTBE&ust=1628937177955000&source=images&cd=vfe&ved=0CAgQjhxqFwoTCKCmzInmrfICFQAAAAAdAAAAABAU
Why do i like it so much ?
Besides the indepth overview of what Braveheart owns, and besides the historical records on Bull River with charts and maps - rather - it covers the original mine costs for Bull River.
Page - 32 - shows the Bull River - mine costs - process costs -
3 pointers - 1) obviously - tonnage + grade + cut offs have since bene revised
2) copper prices have since increased
3) concentrrate is shown but - smelting costs are shown same line
4) cost per tonne is far too high - mine is onsite - limited trucking
other mines have to travel some distance and are far less per tone
If memory serves - updated new resource size -
braveheartis running with a - 2.1 million tonne - 1.8% copper grade.
with an approx - 500,000 inferred tonnage near same copper percent.
Now where the problem lies is...
Braveheart has shown the cost to mine hardrock underground @ $63.22/tonne CDN
And with the overal NET profits right side margin. ( total copper, silver, gold ) tonnes
BUT - of recent - Braveheart has since chosen to run with a concentrate - 25%.
25% con copper = 550/lbs with in a ( copper con with waste )
550/lbs x ( unknown value ) hidden in Ocean contract.
In a video - brqaveheart mentioned - $500/ con
Which would not make sense if the cost to mine each tonne equated to $63.22
it would take am approx - 15 ore tonnes to produce a 25% concentrate copper.
$63.22 cost per tonne to mine
x 15 raw tonnes ot produce a 25% con
= $948.83 CDN
So... how would that work out - $500/con for 25% grade vs $948.83 cost ot mine.
Hence - shareholders need to know the Ocean contract numbers.
25% con doesn't command that much.
On China trade - i saw one miner charging $1,000 usd for 25% con 1 tonne.
Less - FOB.
Cost to mine has ot come down considerably.
Prez stating he doesn't know why the sotck is not vlaued higher, lol,
could revolve around the fact braveheart has not updated thier numbers since 2019,
and new ocean contract.
I'd say that's a helluva good reason why the price is where it's at.
What would prompt braveheart to align with ocean with a 25% con ?
What about - cobaltite credits ....has braveheart since worked on the cobalitie in tailings?
Have they gone underground checked for more cobaltite ?
How about - carbon black credits ?
Yeah... i would think braveheart should do a revamp on their, mine cost numbers, let shareholders know the jiggy on what is what.
And... i wouldn't flinch a bit if they dropped Ocean';s contract and decided to electrowin
thier own copper, andother metal credits.
Like i said... B.C. has a concentrate problem.
Copper metals are practically gien away to other countries to profit.
25% cons should never have been implemented in B.C.
A toll mill style - refinery / smelter - should be set up in B.C. for the juniors.
Instead of shipping cons out of country.
Revised mine cost please and thank you.
Total revamp on mine plane while at it - cobaltite + carbon black + lower mine costs.
Hell... is a large hammer jack on truck better than blasting ?
Who knows.
What i do know is...
open pit miners that truck their ores run a per tone cost of, under $20/usd
yeah.. .that's low grade gold ore - 1/2 gram.
Sounds like, braveheart is giving thier copepr away and working for free.
original number from 2019 were not too bad - could shave more off the cost,
but.. .since this new contract with ocean - hmmmmm.
Yeah.. i own stock.
In my opinion - this junior should revise a few critical mine cost numbers asap.
Modle the mine with producing copper - pure copper.
This concentrate mentality has gotta go.
A junoor who sits with 2019 mine costs run down but has since ran with a revised concentrate
and no numbers revealed as per the ocean contract concentrate - what gives ?
What the hell has happen to our canadian juniors ?
Cheers.