Insinuations that BHP walked away for one. While partially true, it implies the project was bad and this is why BHP walked. The whole context is that the copper price was substantially lower, BHP was not really interested in copper and at the time the mineralisation at storm was vastly separated and without evidence of fluid formation. Also, BHP openly talks repeatedly about how they are only interested in obscene scale assets. They ideally want mine life in the 50 year range if they can get it.
Since then, the copper price has exploded, the global landscape around copper has had a fundamental shift that is not going away, BHP has changed tack and is now hungry for copper, AW1 has cracked the geological code and is making solid progress towards locating the feeder zone.
There was even a post about this today on ceo.ca (pasted below):
@Richrock @Jac_Roque Cominco drilled 9k meters (not even 1/2 of AW1 program this year) as a side project to a fully operational Polaris mine. 9,000 meters buddy, on the Nunavut property consisting of 173 contiguous mining claims covering an area of approximately 219,257 hectares on Somerset Island, Nunavut, Canada. Ummm, price of Cu and Financial/economic condition in 2007 with Polaris closed?? Not good. BHP optioned the massive property in 2016, price of Copper was less than $2.30 lb and they also barely scratched the surface. Guess what? They are still on the Island and watching.How are they doing up there?? The Jorc compliant maiden resource is just that, a starting point from which to expand. I have no doubt Dave will follow through on expanding this resource in multiples. I wouldn't be surprised to see BHP interest in the property again in the near future. You do you, GLThis is why context is so critical and your vague statements can be misinterpreted. Investment is forward looking and you are focusing on the past too much, it is a very different proposition.
One valid point you do make is that this is a long term play (which a few of the rampers don't seem to get) but to suggest that this is going to be sold off as a result is quite incorrect as well. None of us know if it will or won't get sold off. What we do know is there is substantial news incoming to counteract that and if that news lands even half as good as the bulls predict, it would not get sold off.
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