Post by
IgnacioCashmere on Sep 27, 2023 11:14am
First Pour
I hope everyone lives long enough to see first pour at Casino. It will be a long time in coming. This is a wonderful project with great metrics, that is still probably 10+ years away from operation. As for the value of metal in the ground, 1-1.5% of gross value is typical. A buyout is going to give much more than that. Just look at how little majors pay for projects at this stage relative to the value of metal in your hand, not in the ground. The project gets built imo, because the world needs more copper. But getting it done in YT is a timeline some of us won't live to see.
Comment by
jclarke042 on Sep 27, 2023 2:39pm
Based on your posts elsewhere, I'll take it. Some posters here expecting a double digits buyout price may want to check some of Ignacio's posts on majors waiting to lowball desperate juniors. I repeat: time and leverage is NOT on Casino's side.
Comment by
Sooner on Sep 27, 2023 4:12pm
M&I at spot = $70B USD. 1% of that is $700M USD or about 3X our current market cap. So we are trading at 1/3 of a penny per dollar of M&I metal in the ground. So you're saying WRN is atypical in terms of valuation.... On the positive side of things, I guess we can't go too much lower than 1/3 of a penny.