re: more thought for the sulphides bonanza ahead
No Lead in the oxides. Aint an issue for our starter project worth around 3.30 ps npv according to several analysts.
Lead and Copper in sulphides are in separate enriched zones. By 2003, 15 mill bucks had been spent defining 3 workable flowsheets capable of supporting a 500 mill buck capex based 2002 prices. "Complexity" to me means how costly it is to process. If it was gonna be a goer based 2002 Lead at 24 c/ lb (which then fell to 18c / lb in 2003) then it is likely to be a "better" goer in current metals market at 55 c/lb and looking forward. But again not an issue YET.
My own calcs indicate opex prob at around 15% of revenues for sulphides project based todays metal prices going on 2002 feasibility study info. Capex can be staged progressively. And anyway, I'd rather have concentrates shipped to China than processing here .... much lower capex, utilise lower Chinese opex and come up with much higher npv / irr ... see June 04 Q report
And anyway again, URANIUM is gonna be the focus from here next after oxides bedded down. Uranium is potentially much more lucrative than oxides and even simpler to process. Article in wekend Age on uranium debate towards end cites the hottest spot in the world for emerging uranium is the Northern Territory ! But they forgot to mention which company has the hottest part of the NT too ...the "Jungle". Probably cos they too aint set yet haha. But as Alf says, CMR are low key ("and rightly so") til JORC figures are released thru this year ........ starting with 4 major advanced targets. Can't wait.
In simplistic terms, in my opinion oxides is prob like a DRE (assimilated by LIM) or CSM "size", uranium is somewhere in between PDN and ERA likley atm, and sulphides is another MIM. Enough for 3 separate companies , and maybe a fourth for the gold + other stuff.
Put them altogether tho to maturity over next 5 years and if metals markets do what Olympians believe in that timeframe, we might be talking circa WMR mid tier. And my guess / hopes, at not much more than current share cap either. Tight ship all the way bros if my trident has anything to do with it.
I wouldnt mind at all if Im only half right anyway.
Hots is right, there just aint many primary lead deposits left in the world ...... check out Ivernia's market cap for 51% of a pure lead only about one-sixth the size of CMR's currently known resource (which is gonna get bigger). Consider also that hybrid cars need MORE LEAD than ordinary , as well as Cobalt , and that gives Hots and GT the new demand against this limited supply that can send Lead prices soaring about the time sulphides should be getting closer to reality too.
Nothing is ever certain until it happens, but this baby has the best credentials I have ever seen for an emerging one-stop supermarket for all yr global needs and of such low value assigned.
All this has been said before. And best of all, its in Oz, 80 km south of the main export port for China which already handles uranium as well, with road, rail, power (coming) and plenty of canetoads .... a powerful mix haha. This is gonna be a convenient store for global shoppers. Guess a bit like Chaddie shopping centre coming up.
We all hope that developments will be smooth and on schedule so we can get on with the job of setting up that floating Med office, Praise Zeus
IMBOOC
CMR Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
