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Gold/Mining/Energy : Copper Fox
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To: louel who wrote (10527)7/29/2018 5:23:35 PM
From: explorationguy2 Recommendations

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dsikorsk
louel

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It's interesting they estimate 3-4 years to redo the pre-FS. That's not how long it would normally take(~ 18 months) and probably reflects their forecast cash flow projections. Right now Teck is planning QB2 followed by Nueva Union, so that timeline fits for Galore. I posted my share price valuation range of 30 -40 cents, which agrees with yours, and was surprised by how many people still think 25% of Schaft Creek is worth a billion or more. My numbers indicate Newmont paid a premium compared to what Teck paid for their recent acquisitions so I think this is the best opportunity for CUU to sell SC. What remains to be seen is whether or not Ernesto is realistic in his valuation and if Elmer can execute a sale. At 35 cents Ernesto would get a double on his investment(> 80 million) according to my estimates. However, I have no idea what they would do given the JV they signed off on. I'm reserving final judgement to see what they do with this opportunity.
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