RE:You people "Please tell me you're not here because you think this is a good investment.."
GOOD? What's good? You mean good for you. Maybe it isn’t, but it may be proven highly profitable for someone else. It might just be a matter of timing. Ever heard of timing? Since you ask about what I think, I think this is a highly speculative investment. I thought so ten years ago, and continue to believe that today. That said, for myself only, such high-risk investments are NOT “good”, and the reason for that is I swing trade my portfolio with daily active management. I also understand that active management of one’s portfolio is not possible for most who have a job, a family, or watch 6 football games a week.
In regard to Nevada Copper, I was attracted to the project though acquaintance with a principle with the company, AND its low environmental footprint, AND the absence of mitigating factors such as archaeological sites or features, AND its resistance to extreme weather events. Unlike Patch, I DO care about our Nevada heritage and the spiritual experience of this land. Actually, I discussed the issue with the BLM team that conducted the archaeological survey of the mine site prior to permitting.
How were any of us to know that the Republican held House would hold up the land Swap Bill in a petty personal vendetta just to spite Democratic Nevada Senator Harry Reid until the commodity bust began and all reserve acquisition by the majors ceased. I continue to believe that Pala expected to permit the mine and then sell the property instead of going into the mine building business here in Nevada. Yes, the Republicans were doing their political clown show with us even back then instead of working for the American people’s benefit, just as they are doing today.
Think about it! What was this marginally financed company to do, what were their options at that point? Well, step back, reduce the project temporarily to only the UG mine that they figured they could build, if everything went well. Well, it didn’t. There's hardy any point of reviewing each and every problem, misstep, or misjudgment along the way. They either didn’t have or Pala wasn’t’ going to risk more capital to overcome the delays and set-backs, and so at each point the value of NCU fell, and fell, and well, that’s the part you all know.
Like I said, it’s all a matter of timing, so what time is it? It’s time that copper investors IMO need to consider that new risks and new threats to production exist in major mining regions of the planet, that a sharp reduction in supply can occur suddenly, that the price of copper will see considerable upward pressure, and North American ore bodies will receive premium valuation. For some that may mean it’s a VERY GOOD investment.
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