Ann: High Grade Hits in Oposura Central Zone, page-35

Sal,

Refreshing to see a post dealing with facts & numbers, and acknowledging unknowns, rather than building castles of sand on mere hopes and groundless possibilities

My 2c: Obv one can never be sure where commodity prices will be in 2/3 years. One can only work with probabilities based on one’s view of macro & geopol developments and supply/demand fundamentals

I think Op might be an OK investment for raging metals bulls. If there’s a dramatic and sustained turn-around in Zn & Pb, reflecting what happened in 2017, the project will surely be profitable

I suppose the only thing we can all agree with certainty is the project is marginal at current prices. And if prices backtrack even a little (eg to where they were sat a couple of months ago) it verges on being a loss-making venture

How potential financiers may interpret this risk in the current climate, and what that means in terms of project feasibility, cap raising & equity dilution, is ultimately open to personal interpretation

Keep in mind though, the co needs to raise a lot of funds to build/operate this mine. If metals prices remain at current levels during the upcoming CR period, it’s hard to see how existing shareholders won’t be substantially diluted