GREY:NEVDQ - Post by User
Comment by
bogfiton Apr 07, 2022 12:19pm
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Post# 34584641
RE:RE:RE:RE:To be CLEAR I am NOT suggesting
RE:RE:RE:RE:To be CLEAR I am NOT suggesting "Buying a mine property long before metal is produced means yu suffer the dilution associatied with mine financing."
That is always true, I maintain that a discovery is a liability, however our capital expense has far exceeded original estimates for a variety of reasons, some of which you mention: "a deep deline in copper prices, a pandemic and now suplply chain shortages everywhere.
"The ug mine was designed to manage to get value out of the deposit when copper prices were stuck at around $2.50 "
I know the man who designed the UG mine and the impression given was that the UG mine was started up to keep the lights on until copper prices increased, funding became available for building the OP, or a major was willing to bail Pala out. I suppose that getting "value out of the deposit" might be another way of saying gaining a positive cash flow to meet payroll.
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