RE:RE:RE:amenofluff wrote: Good q jc. I will try to explain best I can the way I guess. When land was bought, the op had gov. land on op not available for exploitation. So they found a bunch of high grade on patented land. Kind of the opposite prob that flor had.
A few years ago the ug mill only cost a couple hundred million to build. (Today 500 million) So they built the mill. Plan was to go smaller and stage up but copper looked great so mill got built full. Covid hit. Some main shaft issues hit.
Idea was to mine lower profit short stopes to finance dyke crossings. In the mean time they encountered some unstable ground that would add uncertainty to capex. At the same time they found much more high grade long stope. So plan was changed to just add capital to get the high profit high volume stuff.
As that was all happening a huge legislation got passed to turn yerrington into a special mining district.
So now the metrics of the op are phenomonal. So the only q on op now is. How big 2 build mill. The ug can be done with electric grid available. The op has always been a solar electric dream of which looks like will happen.
I doubt build will start 4 two more years.
What I do know is that every time they put bit to rock, they come up with more hi grade. I would guess 20 billion pounds on all this shallow stuff and then drop down 4 the next 20 billion.
On the other side of the camp ame has only spent about 4 million. They have hit the lurhs hill granite on each hole and are getting higher moly each time. So it appears they are getting closer to a monster copper core.
That was quite a ramble. Thise that r not curious will not read:))
nf
It would seem to me that a fully permitted mine would be rolling toward production immediately. The permitting process is so difficult. Bigger miners would be clammering for a piece of that. Buyers would be lining up cash in hand.
Or is the debt so high that it makes even a great permitted open pit mine unattractive?