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3.3¢ cyprium metals limited

Ann: Nifty Copper Project Restart Financing Update, page-291

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mwatts

3,463 Posts.

794

03/03/23

16:33

Post #: 66589768
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Originally posted by hightrax: ↑

Yep, Wikipedia says Nifty shut down due to low copper prices. Yep, but other probs too. Copper price in Nov 2019 at shutdown was about US$5,859/ton. It is about US$8,900 ton and lots of talk about a much tighter copper market developing. Electric motors need a lot. The commonsense thing would be to look hard at rebooting Nifty. Underground and plant. There are hundreds of millions of dollars invested in the mine and plant sitting which is just sitting there doing nothing. Can heap leach the oxides, yeah, but it a slow and expensive route and CYM will very likely go into liquidation well before then.
If you just love the idea of leaching, CYM can do both in theory, but the cheapest and fastest route to profit, might well be to turn Nifty back on, at these prices. Once it's in profit financing a leaching startup will be less hard.
The way things are going at the moment, get out or lose your money, or what's left of it. Little miners go broke all the time.
I sold mine a long time ago and glad I did, it has been on a slow slide more or less ever since.

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Word to the wise, if you keep doing that it will fall off.

CYM Price at posting: 11.0¢ Sentiment: Hold Disclosure: Held
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