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19:03
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Originally posted by Cuad01:
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TMG paid $900k for the coyote canyon or antimony canyon project in Utah, ranked number 1 for mining. It had a foreign resource of 102,000 contained Sb at .8%. This is Americans biggest and highest grade antimony project and more than 10x the grade of perpetua and double their size, and was historically mined. Not to mention world class antimony management. RML paid over $10m for this project. The project is in Idaho which does not have a good rank for mining investments coming in at number 29, parts of Africa are ranked higher than Idaho. The good part is that it had a lot of historical drilling and data, the bad part is that most of those drill holes are dusters, in fact nearly all of them are subeconomic.If RML are nearology play for antimony , they should find a better company to compare as Perpetua has their resource grade of 0.06% which is very very low. Perpetua is a gold play with more than 5moz.Also there is no antimony smelter in Idaho, and I doubt you could smelt something that low grade anyway. Perpetua took over 10 years to get permitted, still dependent on a very large $2b capex that is left unanswered.Perpetua are still many years away from producing so even if RML find something good, it would take more than 15-20 years to get it running imo, plus the numerous capital raises and dilution events to get it there. The share price went up 100ish% before the announcement, cheap raise at 0.013 that still leaves the company with very little cash after acquisition costs and the numerous amount of options and other shares issued to people other than the vendors.TMG has the superior project that can get to market the quickest. Please don’t make such comparisons without any sodility.
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Now I'm asking myself why we're paying 10 million, and when will we be allowed to drill if the permit is already in place? We currently have approximately 1,204,000,000 billion shares outstanding and approximately 850 million options.I'll wait and see.
(20min delay)