(CCH) 3 major Technical Reports released
There are 3 new documents in Sedar right now. All three are different. I quickly looked at the two of them:
The Corner Bay Technical Report
The Copper Rand Resource and Reserve Report
This Corner Bay report looks excellent. It is about 70 pages, and very professionally done.
I have been posting that I think the total resource for Corner Bay, if you include all 3 resource categories, comes out to about 250 million lbs of high grade copper. These resources have an average grade of over 5% copper. (These are my ballpark calculations.)
But if you use the “0% cutoff” numbers in the report, I think the total resource may actually be larger. The ore in that category still appears to have an average grade of about 3% copper, which is still high-grade. I am admitting that I am not a geologist, and I may not fully understand what “cutoff grades” mean.
Does anyone else want to comment? Look at the Resource table in the report.
I also noticed a table of drill hole results. I saw a few holes that retuned more than 12% copper. That is a very high grade.
Remember when reading this report that Campbell (and Nuinsco) will be starting a whole new round of drilling. The Prospectus seems to suggest good chances for an increase in the Resource.
I think that if we look forward a little bit, we may end up with a total copper resources of 400, or even 500 million lbs of high grade copper. Mr. Fortier will not comment on that statement , that is my assumption. All Campbell management is willing to comment on is the ore for the initial mine plan.
Production costs should be low, because it’s a shallow deposit, and the grades are so high. I see production costs below $1 per lb. It may be in the report, I haven’t gotten that far. So I may stand corrected by another poster tonight – that’s OK.
So Corner Bay alone could end up representing over $1 Billion in profit potential. And it will be in production!
Nuinsco owns 50% of the CB mine production, but it looks like that’s only for the first 250 meters. That point is not totally clear, I am not certain of that – we will find out.
Just seeing these 3 new reports in Sedar, totaling over 200 pages, tells me this is a 100% GO situation.
And remember, the Rights that trade on the TSX represent the last chance for an Institutional Buyer to pick up a position of a few million shares without moving the market for CCH shares.
Just look at the ASK depth. No new, large, buyer will be able to slip in here without moving the ASK up above $2.00 |
