"The initial exploration work conducted by the GSI between 1969 and 1975 was used to estimate a resource base of 770,000 tonnes containing 2.32% copper, 2.64% lead and 3.93% zinc, based upon the drilling of 12 boreholes."
Well the question is not scalping bids, which are endemic to mystery plays, but the upside of the resource. It is an acceptable small mine thingie, but if it is cheap to get permits and mine/upgrade, what kind of beating will they take with establishment of a float mill, and shipping to a smelter.. they are in the Kushingura Mts. Where is the smelter?
What is needed to make this massively interesting is a logistical cost analysis and a tripling of the resource, or some indication that is possible.
This below is another issue. It is not horrible, but could keep the price below a dollar for some time to come.
"At September 30, 2007 the outstanding warrants and options are 8,101,677, at exercise prices between Cdn.$0.30 and Cdn.$1.00 (average about $0.60). The fully diluted capitalization at September 30, 2007 is 32,134,146 shares." |
