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Aston Bay Holdings Ltd V.BAY

Alternate Symbol(s):  ATBHF

Aston Bay Holdings Ltd. is a Canada-based mineral exploration company exploring high-grade critical and precious metal deposits. It is engaged in exploring the Storm Copper Property and Cu-Ag-Zn-Co Epworth Property in Nunavut, and the high-grade Buckingham Gold Vein in central Virginia. It is also in advanced stages of negotiation on other lands with high-grade critical metals potential in North America. The Nunavut property is located 112 km south of the community of Resolute Bay, Nunavut on western Somerset Island. The property is adjacent to tidewater on Aston Bay and comprises 12 prospecting permits and 118 contiguous mineral claims, which comprises of Storm Copper and Seal Zinc, covering an area of approximately 541,796 acres. Under Virginia property, it focuses on exploring two targets in Virginia: high-grade mesothermal gold vein mineralization along strike of the Buckingham Gold Vein and zinc-copper SEDEX-style mineralization in a newly identified base metals/polymetallic belt.


TSXV:BAY - Post by User

Comment by comet52on Jul 11, 2024 5:07pm
92 Views
Post# 36129168

RE:Resources Required for a Surface Only Mine - Thoughts?

RE:Resources Required for a Surface Only Mine - Thoughts? AW1 has to find enough ore - sorry I can't help you with the figures/estimates on that, I'm not a geo or a mining exec - then they have to produce the docs/reports delineating everything and get permitted, which can take years.  Then they have to finance it and that financing is Multiples of the financing it takes to do the exploring.   

So to be blunt, I don't think AW1 can get to a mine.  It's a decade or more away and everything has to go just right for that entire decade.   The shallow DSO plan is very much a longshot plan imo.   The reason most junior exploreco's don't make a penny for investors isn't just that they don't find the minerals, but that even when they do find them, the path from finding them to building an actual producing/profitable mine is literally a minefield (no pun intended).   So much has to go right and it has to do so for many years running.  

The best hope for investors here is the dd finds some deep sed-hosted strikes this year that get a major interested in a takeout, a major that can fast track permitting, handle financing, etc. and make money at a site that can only be worked 4-5 months a year.   A sustained high copper price due to supply/demand issues would help.   For people invested at these minimal prices, this would produce a handsome profit.

JMO, YMMV, etc.
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