Oxide copper is common as a capping above sulphide ore in the Western USA porphyry camps. Most oxide resources were found early and mined many decades ago if they survived erosion processes. IMHO the co has been pleasantly surprised by the areal extent at Blue Hills that has potential to host this "cheap to mine and extract" style of copper and the fact that it seems to be sl offset from what they considered to be BH's. A back of an envelope calculation suggests there might be 50-100 million tons down to say 100 metres in which to explore for the right grade geometry to make an open cut feasible. As a shareholder I am a bit more convinced today that PMH will pay off well in time for us loyal holders.
PMH Price at posting:
23.0¢ Sentiment: LT Buy Disclosure: Held
