At the AGM the spin on the low grade involved margins. Covered...

At the AGM the spin on the low grade involved margins. Covered in the post business presentation which puts it better than I can - looked for a link but doesn''t seem to be one.

While the Au Ag (Mo) may not be the same scale as Winu it is pure gravy for CVV as it falls out from processing even if recoveries aren't great.

Move and process enough tonnes at a low cost then the grade, while it makes it easier if higher, can and does produce a good profit.

Examples of Copper Mountain and Gibraltar in BC show this to be the case for those mines. By extrapolation CVV probably has a similar situation with arguably a slight edge in location and infrastructure to them.

For me the grade is an issue that can be handled IF they get financing and all permits.

Big IF on financing with some very interesting nibbles from European government finance outfits hinted at. May be others but IMO the big hurdle to overcome.

Permits - should be a matter of doing the due diligence and satisfying all parties which is easier said than done.

One final comment on CVV. The starter pits will be in higher grade material for the first 5 years. The LOM grade is adequate to give good margins after this first phase of mining.


Was reading about the supply demand situation for Cu in the Northern Miner (Canada). Was a bit surprised to read this year was heading for a surplus! But various sovereign risks and development

TNM extract

Projected copper deficit evaporates

Cobre Panama’s shutdown and unexpected operational disruptions forcing copper mining companies to slash output has seen the sudden removal of around 600,000 tons of expected supply, moving the market from a large expected surplus into balance, or even a deficit.

The next couple of years were supposed to be a time of plenty for copper, thanks to a series of big new projects starting up around the world.

The expectation across most of the industry was for a comfortable surplus before the market tightens again later this decade when surging demand for electric vehicles and renewable energy infrastructure is expected to collide with a lack of new mines.

Instead, the mining industry has highlighted how vulnerable supply can be — whether due to political and social opposition, the difficulty of developing new operations, or simply the day-to-day challenge of pulling rocks up from deep beneath the earth.

Just one of many viewpoints which can give confirmation bias a hand or be prescient or both.