The risk may pay off...but now is not a good time to buy
From what has been stated in a recent news release by Curis, they intend to acquire the necessary environmental permits in order to get the towns ok on the project. It seems Curis thinks the issues are because of environmental concerns thus the reason they recently withdrew their zoning change request. During a recent town council meeting council members expressed their commitment to the vision promised to residents and developers in the area which leaves the current zoning in place - master planned community vs. industrial/mining. There was no mention of environmental concerns by the town council.
Curis's planned Phase 1 of the project includes;
- Withdrawal of copper from the state land portion (not within town limits).
- Expansion of the current facilities to include a production test facility (inside town limits).
As a result of the zoning problems, Curis has not been forthcoming with a change to the original program presented to investors. Presently there is lack of information indicating how this NEW program benefits the investor.
In order to execute Phase 1 many costly changes will have to be made. With no zoning change approval the entire operation will need to be relocated onto the state land portion. This includes the SX/EW production test facility. The leach ponds necessary for the recovery process are located within town limits requiring construction of new leach ponds within the state land area. This will also reduce the area that can be mined, limiting the available copper that can be recovered.
Is there truly a change to the program? If not the project is clearly and entirely behind schedule. Until Curis comes forward with their true intentions a STRONG sell is recommended.