Thierry overviewThe more I study this project the more I feel this is quite a gift Braveheart captured. I do feel the capital costs are higher than I would expect for a past producing mine, but then again, I am not a mining consultant. Below are the meatl prices used for the Thierry project. Currently we are well above all these prices and the mine is viable at the quoted prices.
50% higher copper
90% higher nickel
20% higher gold
100% higher palladium
10% lower Platinum.
Huge increases in pricing
From the Jan 2021 PEA....
1.11 ECONOMIC ANALYSIS
The metal prices used in this PEA are US$3.48/lb Cu, US$8.00/lb Ni, US$21/oz Ag,
US$1,600/oz Au, US$1,100/oz Pt and US$1,250/oz Pd. The Project was evaluated on an after-
tax cash flow basis which generates a net undiscounted cash flow estimated at $549.1 M.
21.1 CAPITAL COSTS
The total capital cost of the Theirry Project is estimated at approximately $710.5M. This is
composed of $407.0M in pre-production capital and $303.5M in sustaining capital. An
allowance for contingency of 5% has been included in these totals. A breakdown of this estimate
is provided in Table 21.1 and includes contingencies.
Obviously Braveheart can not raise 407 million without major share dilution, but a partner or royalty stream could.
No matter how you look at it, the market cap of Bravehart at about 25 million canadian is quite a value.
I have listened to a number of the CEO interviews and am very impressed with his dilligent approach. I feel share dilution is not his MO.
All just my opinions. Other opinions appreciated.
RD