SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Copper Fox
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: louel11/25/2015 2:21:43 PM
1 Recommendation

Recommended By
biggerbob68

  Read Replies (1) of 10654
 
Looking at the latest C/F release.
During the War of 1914 to 1919 the demand for copper pushed copper to 25 cents per lb. The equivalent (inflation adjusted) in 2015 values of $6.01 The V/D mine flourished due to the demand caused by the War. When the war ended copper fell back to 17 cents ($4.08) which stressed the finances. By 1921 Copper had dropped to 12 cents ($2.88 Today) and the company had to close.

Labor rates for miners was $3.50 per day. With work days being 10 hours. equalling .35 cents per hr. ( They were still 10 hrs. a day 51/2 days a week in resource industries, when I started work in the mid 1950s.)
Inflation adjusted wage rate Eq. would be $8.41 per hr. WOW try and hire a miner at that price today.

Now I realize technology is far more advanced. However in 1921 environmental concerns were not what they are today. Water at that time was not even a consideration, nor was the expense of compensation, liability insurance, pension expenses and numerous other problems which miners face today. Like permitting and public opposition from people who don't even reside in the area or may have never been there. Let alone town's folk who's homes they will be beneath.

After the controversy with early numbers at Shaft creek Vs. how things have transpired leaving many feeling a bit gutted. I personally won't put much faith in V/D being the Savior.

One thing for certain. What ever they do, They are going to require funding from somewhere. That normally comes in the form of dilution. Even Ernesto would want something in return for fronting a bit more. Anyone else would I expect would prefer a lower share count to work with.
Teck has stated they are not interested in starting a new project. But if they may be interested in a bargain priced turn key opp.

It is in your back yard Dell so I'm sure you could express an opinion of very valid thoughts.


usinflationcalculator.com



Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News