Share
681 Posts.
lightbulb Created with Sketch. 30
clock Created with Sketch.
04/10/18
19:00
Share
Originally posted by psi81
↑
Finding copper doesn't equate to reserves though. Of all the drilling since VCN merged with URL, only Turkey Creek has led to new reserves and that was an accidental discovery.
There have been some promising leads but Eva needs to stand on its own merits. The grades here are so marginal that it's going to take a lot of drilling and testwork to answer the question of whether any of these leads will result in new reserves. Personally my plan would be to get Eva up and running, but plan for a 20 year mill life. Depreciate the mill based on Eva's reserves and then focus on the satellite deposits. Even if they only provide another 1-2 years they are cream on top.
Expand
All good on this but there is an 8% arbitrage in selling TSX CMMC, buying ASX CDI's and converting them to TSX CMMC shares. Should expect c6c to hit 1.31 AUD.