Zeev, Not sure if you meant $.5/lb Cu, because $5. sounded high. Say, you - on board? What am I to think now? Should I be ecstatic, or should I now worry about the dreaded ZIDI factor <GG>.
Anyway, I am encouraged by this release and a conversation last week. I think the idea here is to fine-tune both approaches, so that Global has the flexibility (and the hedge) to have and produce with two reliable methods, and later lean towards one or the other, depending upon yields, production costs and so on.
My other thought is - whether or not you believe Gippy's press releases, one still must consider the following: Sabin is a respected and established player with an excellent reputation worth everything to them (especially when one is in this business!). If you were they, would you stand by and allow Global to boast of confirmations that you yourself did not believe or could not replicate - unless you were the source of this? I can only assume that they would be perilously vulnerable to loss of customer confidence (well, customers!) if they allowed producers to exaggerate in their (Sabin's) name. Nope, I really don't think so - and moreover, I suspect that these two parties have probably had careful discussions about what can and cannot be said, in order to maintain credibility (especially on the Sabin side). If this is the case, things could be even better than can be reported now and still maintain a margin of safety (plausible deniability).
Finally, Mr. McKay has once again not only kept us informed in a timely manner, but continues to meet his timelines pretty well.
Regards,
$cott |
