| | | Read a number of posts on AG. Lots of dreaming and defense statements by those who still live in hope. false extreme evaluations. Protecting EE for the reason there is no other recourse for normal share holders. One post which made the most sense was by Canada Grant.
" The big problem is the resources in the ground aren't going anywhere until Teck says so and until that happens I realize one thing. We do have nothing and it's reflected in the horrible share price. "
Absolute fact ! Resources are monetized by extracting and marketing them, Not leaving them in the ground to study over and over again. If it requires years of restudy trying to make them economic. It suggests economics of the deposit is very borderline . Market price for any business mining included is relative to ROI. Compare CUU share price with SEA both are pre development.
One other thing I read was the claim that Elmer has brought into 5 mines to production. Yet I have yet to read where anyone can name the mines. I cannot find them unless you include something like the DOT mine half way between Merritt and Spence's Bridge which I would view as not much more than a gravel pit. The operation in Kazakhstan was another almost artisan adventure compared to Highland Valley, Red Chris, or other like mines. So where or who are these five mines being bandies about ? Can anyone name them ?
Lots of belief in Elmer by some. But in my view He really does not have a great track record of success when it comes to discovering and selling big deposits to large mining companies.
From what I see he has historically been pretty good at promotion and getting money from investors for his various exploration projects. Using some to drill holes in the ground, Pay office expenses, remunerate his fellow associates in the company and take a salary for himself for doing so.
Share holders should not get to excited just yet. Teck has held the Shaft creek claims for around 50 years and still not in production. Not even close. It would take another five for permitting and E/A studies if they began when this current study is completed. Many share holders will probably be dead before it comes to conclusion, Del who started this forum was one such casualty. I have decided to lift all previous bans making this a civil open forum.
Secondly Gold prices are rising and Copper should also. Minerals rally & Gold historically climbs prior to an on coming recession. As a hedge against inflation. When Gold peaks investors then switch to utilities for stability as the economy rolls over, What sensible mining company wants to purchase or develop a deposit at it's peak price ? I would suggest any development of Shaft creek would be post the next recession. It is coming this Bull is now 11 years old. The longest one in history. Inflation and the low Canadian dollar has increased the cost of mining equipment dramatically as compared to Y2K .
Teck got financially burned hard attempting to develop Galore at peak mineral prices just prior to the 2008 recession. I would not expect Lindsey to make the same mistake again. I believe production is still years away and if need be the JV can be altered or negated just as the Salazar agreement was.
The Ten Commandments were inscribed in stone, Even they were broken. Cheers
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