Copper asset is not bad at all with 0.7% grade open cut, and potentially 1mt contained copper.
The problem is the management did the BFS wrong, with over $10,000 capex/annual tone, which killed the project instantly. Comparing CUO's $3000/annual tone capex. They can easily to get the figures right by excluding the $40m fleet (like 1,000 Falcon?) and overburden removal.
The management has no clue to do feasibility study, and clueless to handle uranium project. They are half dead, and half buried people, going around circles, the worst bunch I had ever dealing with.
I hope they have the guts to invite Twiggy to be their Chairman, or so. It is undervalued company if without the current management team.
URL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
