The resource is already there Mic. Eva is only a small chunk of...

The resource is already there Mic. Eva is only a small chunk of what is available to them. If they want to drill for the next 2 years they can prove it up for a longer mine life but it it makes no difference to whether they should or could get the financing or will commit the money to commence a project. That is just wasting $15m that could instead be used to move a project forward. Like Altona before it they could miss the boat on having a developed project when copper prices are attractive.The difference is C6C have the capacity to develop the mine, Altona did not. Then the copper price fell and they were screwed and had to find someone to take them out.

It is a bit like people telling me that BHP, RIO, FMG etc only have such and such a mine life in WA. Very True for the pegged deposit, but blind freddy knows that they have more iron ore than they could ever dream about mining for 100 years. When they are good and ready they will peg out some more territory, drill it to prove it to the naysayers and then do the infill drilling so they can develop the mine plan and meet the required standards and give us the resource/reserve numbers and eventually develop that deposit.

I am happy to cop it if this is what a bunch of Canadian bankers want before they will cough up the cash to finance the project. If it it then say so because they may want to re-drill parts of Eva to confirm the deposit that AOH proved up, rather than extend the deposit and mine life. As i said in my earlier note - Why ? That has never been released by C6C.

The AOH completed mine plan was to have a 7mtpa open cut mine with 14 years production of 39000 tons of Copper and 17,200 ounces of gold per annum. They know there is more gold and copper at Companion, Quamby, Veiled, Ivy Ann, Reaper, Hobby and Lady Clayre deposits just to name a few. They also know some of these also showed Silver and even Cobalt. I just find it weird that Cowden who knows more about this project and its numbers than anyone alive is leaving at the very time they think about doing something. He also had a big personal investment in Altona which went over to a holding in C6C - i have not seen anywhere that he has sold down.

Why and what else is going on ?