That's a more positive report ZZ. Argonaut seemed happy and were going to review their $1.27 recommendation and I wonder if they will go higher or lower, judging by their tone I would think higher. Sprott & Co were probably all tucked up in bed during today's trade so not sure how involved they were today.
I do however think the market expected more and the disclaimers in the beginning seemed a little overdone to me. There is a lot of drilling to come and plenty of opportunity to build on this resource. As someone pointed out earlier today, if all goes well Jambi could go a long way toward paying for the plant.
I guess the big takeaway for me was the low production cost. Sub $20,000 / Tonne is generally accepted barrier to new entrants to nickel mining in many jurisdictions. CTM's cost of production does seem incredibly cheap and means they will be able to survive under any price conditions ( a big tick). This, combined with the potential to significantly grow the resource would have to make them a very attractive target to a major IMO.
"Gordon said the low C1 costs meant Jaguar would be profitable under any future nickel price scenario."The low C1 cash costs reflect both the significant open pit volumes and the low operating cost environment in Brazil, and results in high operating margins that will be resilient to fluctuations in the nickel price and exchange rates," he said."
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Ann: Jaguar Nickel Sulphide Project Scoping Study, page-87
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