Original transcript: "The facts"
PEA for Storm Project,Arnie: quite a few comments on Hot Copper, the Preliminary Economic Assessment (PEA), Dave could you just share a few thoughts from your side on what are we due to expectfrom AW1,
Dave: Yeah I mean, like Imentioned, obviously there's a lot we'redoing internally and assessing the size of the prize at the moment but as I pointed out the reason you put out a study is to essentially get the mining permit, Etc and so we see given theexpected growth of the resources that webelieve it is there at Storm this year, this drilling season, it makes no senseto permit a smaller project and thencome back and having to redo yourpermitting for a larger project. So wesee the larger project as the real, you know that's a Transformationalchange for American West Metals.
We don'twant to just be a boutique copper producer, we want to be a significant copper producer with demonstratedresource depth and Mine life, but also that fantastic exploration upside and potential as well, so like I said we've completed a lot of the studies internally and understand, you know, the rougheconomics around these things, but fromwhat we want to put in front of theCanadian government in terms of apermit application is a different beast and that's what we'reexcited about and that's you know whatwe hope that this year's drilling can certainly define for us.
My interpretation:
Here are the key points about the PEA (Preliminary Economic Assessment) for the Storm Project, based on the conversation snippet:
- Goal: Obtain a mining permit for a larger project at Storm.
- Reasoning: The company (American West Metals) believes there's significant resource potential at Storm and wants to avoid the hassle of permitting a smaller project now and having to redo it later for a bigger one.
- Vision: Become a significant copper producer with a long mine life and exploration upside, not just a boutique producer.
- Current Stage: Internal studies being completed to understand the rough economics, but a formal PEA is required for the Canadian mining permit application.
- Expectation: This year's drilling season is crucial to define the project for the PEA and hopefully support the vision of a large-scale operation.
In short: The PEA is a critical step to secure a permit for a large-scale copper mine at Storm, which aligns with the company's goal of becoming a major copper producer.
(20min delay)