From the CBH website: The Endeavor orebody is similar to others in the Cobar Basin in that it has the form of massive vertical pillars. Extraction of some 30 million tonnes has occurred with remaining reserves expected to support production beyond 2020. The company holds approximately 30 kilometres of exploration tenements surrounding the mine and is actively exploring this ground with the intent of operating the site well beyond 2020 taking advantage of its significant endowment of infrastructure. This includes plant and machinery with nameplate capacity in excess of 1 million tonnes per annum, a high security water license, fully sealed road to site and electricity distribution infrastructure capable of supporting significantly higher production rates. The company also owns over 80 houses and 60 units in Cobar that it leases to employees at significantly discounted rates.
That's significant investment given that they can only say supply to "beyond" 2020...
Perhaps the MB PFS has been/is being completed and negotiations are underway for PEX to flog it to CBH.?
They did say there would be "news" regarding MB which I found an interesting statement at the time.
Not sure if the 50/50 CBH deal could get into a stand off mode, no one really wins. If I were PEX a nice fat cash sale would be perfect. Given the companies point blank refusal to explain the PFS delays, and it's effect on the retail sp, we may well be simply in the dark on a sale. That would explain both SBM and Pitt not rattling the sabre.
If SN/WT really is a monster, and they flick both MB & Wirlong, the path forward with PEX should be considerably easier. Again it would come down to how big is SN/WT? So drilling 24/7 makes very good sense.
PEX Price at posting:
42.5¢ Sentiment: Buy Disclosure: Held
(20min delay)
