RE:RE:RE:could/should we sell McCoy property?Good day Metalhead and other readers
You have a point that there has to be enough ore to buiild a processing plant or truck the ore to an already existing plant that is nearby. That is why, if I recall correctly, the three mines that were projected to feed the refurbished the autoclave did NOT include McCoy. Perhaps I am wrong on this and I don't currently have time to go back and reread what the original plan was, but I believe McCoy ore feed was not part of the autoclave refurbishment plan. And to say that there is absolutely NO market for this asset is a falshood. The fact that Ewan bought the FAD property from Paycore (which was ultimately not a good idea since it used up some of I-80's scarce capital) shows that there is always a market for anything. Perhpas it is not a good market and the seller is not going to get much for it, but someone will buy it if the price is right. So what might that price be for McCoy I can not say because I don't have the knowledge to assess that. But someone on this board might?
As per your " wish thinking" comment it is totally off base. Anyone who has read what I post will understand that I don't have high technical knowledge of mining nor finance, but I can still do analysis of strategy. And I want to do that with other knowledgeable, open minded I80 investors. It is what you might call a 'brain storming" exercise. But any "brain storming" group has to have a gate keeper who keeps in line the negative person who derisively shuts down all ideas before the idea is even flushed out. The goal of brain storming is generate ideas and later, with calm minds, assess the ideas to see if they have any merit.
If you would have said I 80 does not have an asset they can sell AT A WORTHWHILE Price I might agree with you. But you say they have nothing to sell, and that is not true. Just like you said they can't raise capital through a share offering. Of course they can do a share offering, the pertinent question is AT WHAT price can they do a share offering? They can probably get some streaming/royalty deals as well. Probably at terms that are very favorable to the supplier of the capital, but it still probably doable. Heck some of those streaming companies have extended credit to gold miners who are years away from producing an ounce of gold or silver. So for you to say I 80 has NO options it is false. If you want to refrase your comments and say something like, "I 80 doesn't any refinancing option where they don't have to give up a something valuable." I would agree.