RE:Teck's Highland Valley is NIM's neighborWell so much for Teck being the only buyer here regarding Nicola with its wholly owned "10,000+ hectares that include the old Craigmont Mine." Nittetsu is a big deal and 40% worth must have led to Teck to spit their coffee out and havea WTH moment on Sep 6th don't you think? Mitsubishi, Nittetsu, Sumitomo, Marubeni all in the Quesenl Trough.
" Nittetsu overseas copper mine development business started in 1975 by developing the Qaleh-Zari Mine in the Islamic Republic of Iran, followed by the development of the El Roble Mine in the Republic of Colombia of South America. It operates the Atacama Copper Mine in chile and currently it ias in the process of developing a second copper mine there and has just funded exploration in Peru via Camino Copper. Big stage world player as is Mitsubishi. Move over Teck! :)
https://www.nittetsukou.co.jp/eng/industry/resources/development.html
https://www.nittetsukou.co.jp/eng/industry/ Nittetsu's roots as a diversified company go back to its founding back in 1899 , It currently has operations globally that includes:
- mining and distributing industrial minerals;
- purchasing and distributing coal and petroleum products;
- developing and distributing equipment, machinery and environment-related products;
- real estate;
- power generation using renewable energy;
- the supply and sale of electricity.
It took 7 years for Nicola to consoiidate over 10,900 hectares under single ownership. that hasn't happened since the 1960's. Important to note that the Craigmont Mine was B.C.’s first modern, large-scale open-pit mine, which evolved to an innovative sublevel caving method of underground mining when the maximum safe depth for the open-pit method was reached. The problem of transporting thousands of pounds of ore more than a mile down the mountainside was solved with a cable belt conveyer that, when loaded with ore, produced some of the electricity needed by the mine. New Craigmont hosts the wholly contained "Craigmont Mine" which is still the highest grade primary Cu mine ever in N. America. 1961-1982, it produced ~1B lbs. Cu at a 1.28% Cu grade. Highland Valley's remaining Measured + Indicated + Inferred grade = 0.27% Cu. New Craigmont has several 1.00%+ Cu hits, some over substantial widths, from the past five years" .
Important ot note that the Craigmont Mine solely operated a Cu Skarn Mill, so it ignored surrounding porphyry targets though sampled and trenched but they couldn't produce it without a dedicated porphyry mill back in the day. We might presume that Teck has belittled the significance of Nicola having the grand-fathered Production License at Craigmnt to their detriment. It shutdown in 1981 solely because of $0.60 per lb. copper whereas Cominco rolled up Bethlehem, Lornex and Hignmont Copper into the super mine "Highland Valley Copper Mine". Nicola CEO Peter Espig, fluent in both Japanese and German, is a no nonsense, all business, Goldman Sachs Japan Alumni. Guess Teck blew it on not knowing that tid-bit.
Peter Epstein in 2 reports February 14, 2023 and August 22, 2023 has commented " "I think 2023 is going to be a big year. CEO Espig will have the opportunity to almost or completely pay down debt (if he wants to). Or, make acquisitions (acquisition valuations are declining along with gold/silver/copper prices). It's a buyer's market and Espig is an expert in M&A and distressed/turnaround situations. Pay down debt, buy cheap assets, what else?"
Feb 14, 2023 https://epsteinresearch.com/2023/02/14/every-junior-miners-dream-cash-flow-blue-sky-upside/ Aug 23, 2023 https://stockhouse.com/opinion/independent-reports/2023/08/23/nicola-mining-produces-copper-silver-gold-with-current-cash-flow-prolific-b-c Sep. 7, 2023 Research Report authored by Jim McFadden of Trmont Capital of Toronto. He like Peter Espig is an ex-Goldman Sachs Banker. Here his impressive CV: https://tormontgroup.com/jim-mcfadden/
Tormont Capital Sept 7, 2023 Research Report
https://nicolamining.com/files/Tormont-Report-on-NIM-9-7-23.pdf
NICE HISTORY ON THE CRAIGMONT MINE
https://www.exploregoldcountry.com/pdf/caches/Craigmont%20Mine.pdf
https://www.merrittherald.com/gearing-edge-the-craigmont-mine-more-than-20-years-of-prosperity/
My oh my, Chrmn Emeritus of Teck, Dr. Norm Keevil Jr. earned his PhD Doctorate by writing his graduation thesis on Craigmont in 1965. Here's a 25 page Dissertation of that Thesis. Yep Teck let this one get away from them even Dr. Keevil with all his accolades let this one slip through his fingers fornow. Click on th elink , accept all cookies and you're in.
https://www.proquest.com/openview/a7113c7ab046cbf5927b71848f81ca55/1?pq-origsite=gscholar&cbl=18750&diss=y
A successful retired businessman who worked for IBM commented on the deal saying "I have dealt with the Japanese in the past (Yamaha, Toyota and Nissan). When they approve an announcement of a LOI or joint venture they are committed to moving forward. Peter's experience in Japan with Goldman Sachs is invaluable. This is a major game changer for NIM IMO."
Peter Epstein on ceo.ca/nim said on Sep 6th and later ..."Nicola would not have to spend any money exploring & developing New Craigmont for several (3-5?) years as Nittetsu Mining invested C$25M into the project. Nicola is already free cash flow + and owns 100% of an operating gold mill that would take 5+ years to permit, construct & commission (and deal with bonding, reclamation obligations, tailings disposal) at an all-in cost over those 5+ years of up to C$100M. And, it has a permitted high-grade silver asset. (Treasure Mtn. Silver Mine) ...... How much of a premium would Nittstsu (or Teck, Newmont, Freeport, New Gold, Hudbay, Seabridge, Centerra Gold, etc.) have to pay for a controlling 60% stake in New Craigmont?"
pogohere - (8/29/2023 1:35:23 AM)
Teck's Highland Valley is NIM's neighbor
Teck is the only buyer of NIM's copper that makes any sense. This makes the results of the latest drilling on New Craigmont of paramount interest.