RE:RE:A great time to buy? I'm not too worried about no time line.My guess is that there will be legal implications if the Minister places our file at the "bottom of the pile"
If this was a small project, I could see that happening. However this is a mine with the potential to produce a BILLION in mineral tax revenues at 13% of net income. There have only been a few mines of significant size open in BC since we were turned down in 2012. My guess is that the Morrison mine is still the only near-term project on the Minister's desk.
When I use the todays ore prices with the working model from 2010 it shows a net income of $6 or $7 billion over the life of the mine. And I don't think this includes the added revenue from a half billion or more of extra pounds of copper because of today's high copper prices.
My understanding is that mines that provide $100 million or more in mineral tax revenue are given priority. When BKM applied they were using conservative numbers (gold was at at $1600+ at the time and they used a price of under $700 an ounce) and still showed over $200+ million in potential mineral tax revenue. This is why some of us speculate that the government produced the "Booker Pacific" file in which they showed mineral tax revue of $60+ million. I have to believe that it was intentional that they manipulated the numbers to bring them under $100 million.
So, IMO it will not be a long drawn out decision because doing so could be costly to the government in terms of court ordered damages.
Whether they say yes or no to the permit is another story. I think it will be yes, however if it is a no again, then I think we will be back in court shortly, in which case another unnecessary delay has the potential to be costly and the government knows this