I saw this funny comment on PEX hotcopper by a punter when PEX maiden resource was ann.
"More silver in a jeweller and more copper in Bunnings"
With M. Cap of $90m and maiden resources of 58,000 ton of Cu
cash $16.6m at June 21.
CU conc maybe in 10 year after more studies.? How much $ will more studies cost. PFS, FS, BFS before FID?
another $30m? For studies, corporate expenses. More drillings add another $20m
So 10 years wait. $90m + $30 + $20m = $140m
How many CR they will need in this 10 years.
OK resources after drill 10 years maybe triple = 180,000 Cu
Why is CYM at $76m only. U see Cu plate in 24 months.
Hard Sell down Because of the expected 6 months delays
I do not understand why other SH are voting with their feet.
More good buys for me
Ann: Investor Webinar, page-55
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