its no surprise that the project shows a sensitivity to the copper price, but a break even of copper US$1.39/lb makes this an INCREDIBLY ATTRACTIVE project...
also, the scoping study factored in copper recoveries of between 88% to 91.8%, however, test recoveries so far have been getting 94% recovery. Previous announcement have also informed the market that the ground is easy to mine, and has a high recovery percentage...
Other points worth noting:
1. the company has secured tenements to drill and extend the current resource, with some grades over 1% copper.
2. the company will be giving shareholders an in specie distribution when they divest their uranium assets....
3. the company is flush with cash, so will have no problem with funding further drilling programs...
this news has beaten my expectations, so I hold, whilst the rest of the market catches up with what exactly is going on...
60 cents will be a distant memory.
PMH Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
