There are good reasons why etc.Janoe: I don't think that you grasp this business very well. There are many undeveloped deposits around the world, currently on the shelf, that offer better grades. All projects have warts of one kind or another. If M&A heats up the best projects will get gobbled up first and Gaspe isn't one of them. Yes, Gaspe has lots of contained copper, and the oceans have a lot of contained gold…
When Friedland & Co went into the DRC and found one of the best copper deposits on planet Earth, everyone started spouting about how geopolitically unstable the DRC was blah, blah, blah. Anyway, they got the job done proved the doubters wrong. They also reopened a long-closed zinc-copper mine. In both cases grade trumped geopolitics.
The other factor is Glencore, which is still in the decor. Why didn't they do anything with it? Perhaps it is because Osisko Metals is their proxy, tapping the market to fund necessary and expensive work to determine if there is a case for reopening operations there. Those monies don't have to come from Glencore's pocket. If the project "improves" they will claw some of it back. If Osisko fails, it will be handed back.
I wish them every success but I just don’t see a viable business case given the external competition. My opinion only…