This is extremely positive to see progression on this project which hasn't had modern exploration performed on it but already has a substantive resource.
A lot of in ground value and i'm the first person to acknowledge that in ground value can mean absolutely 0 if it's completely unviable. However some old evaluations suggested it may have been and if some modern exploration techniques provide more information and can extend the resource and or the ultimate goal prove a deeper feeder system exist then you only need a small amount of margin on 26bn in ground value for it to start to look value accreditive.
All in all, quite a few good projects here for a smallish EV. Also have found Eamon to be one of the straight shooting MD's i've spoken to. I generally have open communication with every stock I invest in. His annual salary for the role isn't high at all so 100% not lifestyle - could take an exploration superintendent/manager role at any major miner and get paid more. It might not be everyones cup of tea in terms of corporate strategy - but it was something i found quite refreshing and he's definitely completely aware of what the company is doing and why. We've got quite a few very prospective projects and BUX essentially is now becoming free-carried on all of them. Exploration is high risk capital intensive environment. Eamon is mid-way through a long term strategy to essentially have BUX basically free-carried in exploration across it's packages. Only need one of those to hit and with a corporate structure line BUX's there's so little free-float it can re-rate rapidly from ~10M EV. Might be a little boring until it's not - generally the stocks I like to ease into. I prefer lower downside exploration plays as opposed to the all or nothing hail marys.
Reminder of the copper project below.
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60036011I was reading more from the old reports on the copper project.
http://docs.azgs.az.gov/SpecColl/2008-01/2008-01-0126.pdfThis link that was shared previously has some fairly detailed commentary in there.
There's a few tables of the noted intercepts and lends itself to some higher grade zones which were postulated to not exist but this details those zonations out nicely in the block model.
Furthermore, as has been mentioned a few times it's looking like a deeper porphyry systems exists.
Unsolicited approaches to divest... potentially something cooking here also.
For context 286mT at 0.8% Cu is around $26bn in todays money. Which isn't to say that it's worth any thing near that. It always comes down to economic viability - but that amount of resource lends itself to high potential if only marginal in nature and even if only a small portion viable. The geological consultants back in yesteryears projected the opex and capital costing, although i deem them perhaps to be optimistic in nature but at the time suggested it was viable.
Irrespectively, i think there's good enough information at current for BUX to get some value accreditation from it and especially if they can farm out and get free-exploration on the deeper feeder system.
technical jargon effectively explaining the picture below in laymans terms.
Anyways, that a bit of a brain dump on the Cu project but not a bad project IMV considering the cost the BUX, then the graphite, then julimar, then the east kimberley project, + 6 more.
SF2TH
(20min delay)
