AW1 4.35% 12.0¢ american west metals limited

Ann: More High-Grade Copper Discoveries at Storm, page-190

  1. 2,356 Posts.
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    Just to clarify on the difference @plough

    https://en.wikipedia.org/wiki/Citronen_mine
    Here's the location of that mine in greenland.
    https://hotcopper.com.au/data/attachments/5608/5608959-6ca02d12feaad57ad0151cfb3b974b0a.jpg

    Here's AW1's location in blue. Red is Citronen and black is polaris (a previous zinc mine which was operating further north):
    https://en.wikipedia.org/wiki/Polaris_mine
    https://hotcopper.com.au/data/attachments/5608/5608970-d4961d660232ad16cb4450fde8c675c5.jpg

    As you can see there is a massive difference in just how arctic the locations are. There are cruises that bring tourism to the island.
    https://www.swoop-arctic.com/northwest-passage/when

    https://hotcopper.com.au/data/attachments/5609/5609010-3f8ad17b7a772f52e0cfdbf5e134e424.jpg
    https://hotcopper.com.au/data/attachments/5609/5609011-82b5a0cde3d3628972ad11dcc048f957.jpg

    As you can see, there is a narrow window where Somerset island is very accessible on it's western side and this is when shipment of ore would take place, just as it did with Polaris. This was all addressed by management during their webinars and they explained it far better than me. They are completely unconcerned with this point and on the contrary see it as a benefit since ships are leaving Somerset island empty and they can negotiate attractive rates.

    This does not even take into account predictions the arctic will be increasingly ice free. I didn't want to muddy the waters with potentials so I've stuck to what we already know, which is that the western side of Somerset island is accessible by ship. Obviously. They'll just pile the ore up and wait for the appropriate time to ship it out.

    https://hotcopper.com.au/data/attachments/5609/5609019-ca9e4642a4f2b99a3b70b7003c39a9fb.jpg
 
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