Happy to discuss how management have missed goals/underperformed etc and yes it is a possibility that this will never get built.
however your comment about this not being cheap to set up is worth looking at.
The initial capital expense (capex) of building a mine is high. All the low-hanging fruit has been mined. Companies have to go further afield to find deposits. The deposits now being mined are getting older; the metallurgy is more complex and grades are going down. In 2000 it cost $4,000-5,000 on average to build the infrastructure to produce a tonne of copper. Now that number is north of $12,000/tonne.
Meaning that if Nifty was in line with peers then the cost of the project would be north of 460 million AUD.
important to remember that copper projects are not comparative cost wise to building a CIL gold plant.
CYM Price at posting:
6.9¢ Sentiment: Sell Disclosure: Held
