RE:RE:RE:RE:Moly going forwardTelemarker,
LOL, the ID is getting long in the tooth on here .... Gawd, April 1997 ..... I followed Stockhouse founder Jeff Berwick over to his current platform, The Dollar Vigilante, a decade ago, after he sold Stockhouse back in the 2010 - 11 time frame.
I was referring to the Ruby Creek moly deposit.
Approximately 461.5 million lbs of measured, indicated and inferred resource with an average grade of 0.067% at a 0.04% cutoff. Adanac Moly Corp.. had already made a decision to commence construction just before moly prices started to crater in 2008-09 and had drawn funds from a line of credit to procure equipment and start work onsite.
One of the co-founders of Stuhini Exploration (STU.v) picked up the Ruby Creek assets a few years back and the asset was later optioned into Stuhini in 2019.
Stuhini has hired Mine Development Associates to complete a updated resource estimate for the Ruby Creek moly deposit, to bring it up to 43-101 compliance. Hoping to see the updated resource estimate sometime in Q1 2022. I understand that an updated pre-feasibility study may also be completed in 2022.
Adanac Moly made a production decision, based on the 2007 Feasibility Study. I am interested in seeing how much of an impact there might when the numbers from the 2009 resource estimate is worked into a pre-feasibility and feasibility study. There was a significant increase in the 2009 resource estimate compared to the 2007 feasibility study numbers that Adanac used to make the go ahead from production.
Those 2007 numbers were 295,699,000 lbs measured and indicated grading 0.063% with a 0.04 % cutoff and another 29,730,000 lbs of inferred grading 0.054 % with a cutoff of 0.04% .
As you can see, the 2009 numbers are about 30% higher than the 2007 Feasibility Study tat was used to make the production decision by Adanac
If you're interested, here's the last technical studies that were completed by Adanac Molybdenum Corp.
Adanac Moly 2007 Feasibility Study : https://secure.kaiserresearch.com/i/jk/tr16/TRAUA20071201.pdf Adanac Moly 2008 Condemnation Drilling Report : https://aris.empr.gov.bc.ca/ArisReports/30306D.PDF Adanac Moly 2009 Mineral Resource Update : https://globaldrillingsolutions.ca/wp-content/uploads/2017/06/Global-Drilling-Resource-Update-2009.pdf Adanac Moly once commanded a market cap of C$330 million.
Stuhini's market cap is currently $0.63 / share X 25,972,766 shares O/S = C$16.3 million
Eric Sprott has participated in all three private placements and is the second largest shareholder with 2.8 million shares. There were no warrants issued in any of the financings. Share structure is very neat.
Hope this information answered your question.
;-)