Hey @Nergel and @Gwaihir, I don't do a lot of posting here anymore as it is becoming frustrating seeing such basic questions being asked of a company that you both supposedly hold shares in and, I would have imagined, have done some due diligence on.
Not trying to give you a hard time, but really are you telling us that you hold stock and are asking questions that Cyprium has answered ad nauseum. Really ignorant questions about financing, the heap leach process, copper grades, etc. I'm sorry but some of them are bog ignorant.
At least look at the videos Barry has posted. Answers all your questions. Don't be lazy and expect HC posters to spoon feed you information which is readily out there. And actually quite fundamental about your precious investment. Don't care if you've got 100 years in the market, dumb questions are exactly that.
It is also hilarious that some people don't appreciate that these guys picked up all the MetalsX assets just in April. Seems some expect miracles in no time. Expect Barry to walk on water soon?
@FreeflyerNZ, a hard working and intelligent poster, is now having to post streams of consciousness to deal with these ignorant questions !! Lol
Some talk about grades on the eastern and western flanks being disappointing as if they know something about this. What do you expect, 5% grades, get real. The western grades were fabulous and the eastern results average for this mine. Anything over 0.5% is absolutely fine for heap leach and even below that is OK as they just throw it on a leach pad and bingo get copper out of what would "normally" be placed in the waste heap. Money for jam but some people think this is not great. You don't need plus 1% grades to be profitable, not in the world we live in.
As for red flags, I'd suggest you go and find a near term producer anywhere in the world with as much potential as these guys.
As for Nifty burying another lot, what world do people live in where 1 million tonnes of contained copper, which is going to be significantly upgraded probably in Jan/Feb when they redo their JORC resources (which will then include the upgrade to the Maroochy reserves), is considered to be a "dud" mine. You gotta remember about Maroochy where the sulphide resource is not defined at all well, is that they could double its resource with the upcoming drill results. Speculation, but this resource is not well drilled and defined. But 1 million tonne JORC resource ?? At today's prices this is a revenue stream somewhere north of $10 billion. And that does not even consider the Murchison assets.
These guys picked up a distressed asset at fire sale prices just as the copper prices started its rise. Brilliant (but bog good luck as Barry has admitted). The main issue is that the market still thinks of CYM as an explorer thus an explorer share price (the market is also skeptical of the Nifty mine for obvious reasons). When the finance is sourced and the rubber hits the road, there will be rerating. Any analyst will know that a financier that wants to lend CYM US$100m means there is something serious there.
I did some financial modelling as part of my own research into this company, which showed NPV of over $1 billion for the three mines over the 20 year mine life (Nifty, Maroochy, Nanadie). And this was a conservative model as Cu prices were held constant in it.
I love brownfields mines where the next miner in knows how to maximise the return and quickly. This is CYM. If you listen carefully to what Barry says in his interviews, they went through 250 copper projects in Australia before they picked this one. They did Proof of Concept to try and "kill" the mine and stress test it to see if the investment was robust BEFORE it was purchased. They could not kill it. And these guys are no mugs.
And the childish posts about things being late a few weeks is just mind blowing. Welcome to the mining sector peeps where, as they say, patience is a virtue. These guys are a "doing" unit not a "looking" unit, so their focus is not on a lot of lovely ASX releases with promises, promises. They are doing exactly what they promised - bringing Nifty back into production as quickly as possible.
Stay for the ride but please DO YOUR OWN RESEARCH. And Keep Calm and Carry On. 2022 will be the ground breaking year of this company.
I will now await the bile that will come my way but hey, I'm just a big holder what do I know ?
CYM Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
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