Exactly mate...KMN going into Mehhico is the equivalent of some seppo golliwogs walking into Kalgoorlie out of the blue looking for another super pit. The seppos/moose rooters have crawled this ground for years and TO DATE, San Anton has never made the grade by virtue of the fact there has been better projects to focus on. i.e compare San Anton with Palmero (BSG), there isn't any!
As has been pointed out by some, the full extent of the porphyry is not fully defined so there is plenty of scope to increase the resource but for those of you who have researched this one you will know Wheaton River have slotted in the ultimate clawback. In the (likely imo) event KMN do all the hard work and bank a 5moz resource (which is what I understand Dudley and his merry men to be shooting for), then for $10m bucks + costs to date, Wheaton can clawback to something like 85% again (have forgotten the exact) effectively flushing the upside for KMN s/holder down the bogga.
Cdchi re: plenty of porphyry’s being mined around the world @ sub 1g/t equivalent; I agree with ya but the only difference is every one of those operations is getting copper credits which improve the economics substantially.
Anyone seriously looking at KMN should do some research on ORC. These guys have NTA of ~6c/sh and have spent the last 2.5 yrs building ties with China in Tibet and secured of a large tenement package in a highly under explored part of asia. Last year they brought David Tyrwhitt (the man credited for discovering Telfer (20moz eq)) on board and have wasted no time getting amongst it.
ORC have defined a mineralised porphyry 2km x 1km and are currently driving an adit prior to commencement of drilling. Trenching samples have been up to 20g/t on contact areas with the bulk of them in the 1-5g/t range. There are 5 other targets of similar tenure in a 10km radius. With a mkt cap of 15m and NTA of 8mill, there is plenty of room for this to blow should exploration prove fruitful.
The 70:30 JV between ORC and China/Tibet Institute of Geology Survey offers potential funding assistance for ORC should a viable project be delineated given the govt controlled status. Don’t take my word for it, go and do some of your own sniffing round. I hold not enough…..Cheers
www.orchidcapital.net
www.orchidresources.net
market darling 2005, page-27
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