RE:Share price puzzle?I certainly feel your pain MF though it hit me much earlier......
Reminds of when I read this some many months back:
Red Chris, is estimated to contain substantial copper resources. As of recent estimates, the mine is believed to have around 13.3 billion pounds (approximately 6 million tonnes) of copper in proven and probable reserves.
Newmont's upcoming updated reserve estimates for the Red Chris Mine are anticipated to reflect notable changes. Following recent exploration, Newmont has identified promising expansions, particularly from the East Ridge area, which could significantly increase copper and gold reserves over time. However, as they align their reporting to the SEC's guidelines (differing from Canada's NI 43-101 standards), some resources have been reclassified or removed from immediate reserve estimates.
The current reserve estimates for the Red Chris mine do not include potential resources from certain exploration areas, such as the East Ridge discovery and the Gully area. While Newcrest has highlighted significant potential in these zones, the most recent pre-feasibility study and reserve estimates focus primarily on existing resources within the main mining blocks. Exploration is ongoing in nearby regions, including the East Ridge and areas to the southwest, which show promising mineralization and could contribute to future resource updates
For the Gully area specifically, further drilling and evaluation are needed to determine if it can be included in future reserve or resource updates. These studies will likely be integrated into subsequent resource estimates as exploration continues and additional data becomes available.
The Red Chris mine has long-term potential, especially with plans to transition from open-pit operations to underground block cave mining. This shift, once fully evaluated and developed, could extend the mine's life substantially, adding further copper and gold production capacity for decades to come
.....and so on, and so on...... sip.....sip