Pretty and relevant pictures. Mine construction commenced (not counting all studies) Q2' 2012
That would put construction time to first production of about 2 1/2 years
To put size into perspective, 2018 guidance for production and costs. All production (presently) sold to Glencore at the minegate.
And from their Qtrly reporting, Q1-18, amounts are in CAD
Production: Maracás Menchen Mine produced 2,214 tonnes of vanadium pentoxide (“V2O5“) in Q1 2018
NET INCOME: $45,844,000
Net Cash Provided by Operating Activities $24,940,000
Net Cash (Used in) Provided by Financing Activities ($26,561,000)
Net Cash Used in Investing Activities ($3,714,000)
If you choose to DYOR here a big reason for the jump in Net Income is the average price per lb of V2O5 of was US$13.60 for Q1 2018, compared to approximately $5.15 for Q1 2017. Anyone can to recall the average price of oil say 2014 and all those ASX shale oil dreamers?
This isn't about calculating what the "ore body is worth" in the ground. It's what is it worth after taking into account all costs to build and operate your mine and deducting that from what your offtake partner will pay.
Hope it works out for you guys ...
MUS Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
