my opinion (worth what you paid)
The news recently said we were going forward with the sale of 90,000 tonne of the existing ore body.
This is 50% of the total.
This would imply a net of about $6 million dollars to the company using the tables described below. Thats would be am amount equal to CCMI current market cap.
If then all goes well and we can send off the other 50% then another $6 million.
Last week was really great news and it will just take time and word of n=mouth to help the stock price.
Also...we still own 39% of Thierry with no value given to the company.
I know Ian does not like interviews, but getting this news out would more publicly woould be great.
jmo
RD
Posted June 23 on this bb.
Existing ORE pile:
iI have reviewed the information about Bull River on the website. Im certainly NOT an analyst and I could be reading the information wrong, so do your own research.
Speaking very basically:
For ease of basic copper value I have NOT included any of the gold / silver / other base metal by product.
Table 14.1 of the Technical report shows at a cutoff of .9 % copper the mine has 2,261,000 Tonne of material with a copper content of 89,545,000 pounds of copper. Using this data then each tonne of material will contain about 39.6 pounds of copper. At $3.50 copper each tonne is worth $138.60.
Table 9.1 and 9.2 of the Bull River project mine description shows a cost of $27/ pound operating cost of each tonne of existing material. $138.6 - $27 = $111/tonne would be the return to the company.
There is 180,000 tonne of existing ore already on site.
180,000 x $111 = $19,980,000 value in the existing ore pile.
Table 9.1 of the Bull River project mine description shows a capital cost of $6.5 million to get the existing ore processed. $19,980,000 - $6,500,000 = $13.5 million complete value to the company.