RE:Shows why it’s a long haul for Jr’s QC has very low grades even in Copper equivalent .
It would not be economic at normal copper prices.
If Firefly drilling delivers 2% copper and over 1 gram per ton of gold,... which I think they will...it should do ok as long as copper prices stay above $3 or so per lb.
However, copper prices being cyclical , it's always nice to have significant gold production as well, as POG is not cyclical.
So, MAE have the gold resources and excess capacity in the milling capability .
Hence, my view that Firefly cannot achieve its goals of being a significant copper producer from the Ming mine because it lacks the processing capacity to expand production, and like its predecessor Rambler mines, does not have an independent revenue stream to offset cyclical Declines in the copper price.
So, Firefly and MAE have mutually beneficial assets that add substantial synergistic value to each partner ........which together, provides sustained cash flows to begin development of the 2.8 m ounce Pickle Crow gold deposit in the Red Lake.........an outstanding asset that could easily add $150;million to the speculative market cap of Firefky.....
Just my logic based on obvious economics..