Thanks for the heads up Hundo.
First off, gotta give JR props for having the guts to do another interview with Crux after TLG's DFS was released.
That said:
IRR:
TLG: after-tax IRR of 14% at $1,975 Au and $4.05 Cu
JR Talked about Detour, Malarctice, etc. being similar (I guess we'll have to take him at his word on this), but didn't mention:
ARTG: after-tax IRR of 38% at $1,800 Au
SKE after-tax IRR of 43% at $1,800 Au
Initial Capex:
TLG $1B USD (sneaky)
ARTG $820M CAD
SKE $713M CAD
"We are the first FS to come out with this size and scale in the last four years."
False.
ARTG (FS done September 2021):
LOM: 20 years
P&P Reserves: 8M Au and 62.3M Ag
Average Annual Production (LOM): 438K Au and 2.4M Ag
Odd how all of a sudden, JR's no longer comparing TLG to ARTG...
Interiewer: "The day (the DFS) came out, you lost what, 25 to 30%...?"
JR: "Yeah, 10 to 11% the first day, then 10 to 11% the next."
False.
Day 1: Lost 18% on volume of 3.6M. Day 2: Lost another 24% on volume of 4.9M. (50-day average volume: 525K)
Sounds like JR is saying he won't sell the company and plans to sign a agreement with a private equity firm for the lion's share of the initial capex, which would apparently mean JR and his team would be the ones building this mining operation. If he stuck an agreement with an existing producer instead, he could get that added support and expertise during the mine build and hopefully get out of the way, which I think would be preferable as I don't think JR has ever built a mining operation as a CEO of a mining company, and given the mis-steps and less than up-front nature of his interactions with the market over the past 6 months, does not inspire much confidence re. him heading up the build.