@PieChartI am long Havilah Resources Limited (ASX: HAV), which holds 100% of the Kalkaroo copper-gold project (JORC Ore Reserve) and Mutooroo copper-cobalt project (JORC Mineral Resource).
When I was undertaking my research on Australian copper projects (producing and undeveloped JORC Ore Reserves) I did come across the
Nifty copper project.
I did not include the Nifty copper project (a previously producing copper mine, in Western Australia) in my copper peer comparison because it was put on care & maintenance by Metals X Limited, so under JORC rules it was dropped back from a JORC Ore Reserve to a JORC Mineral Resources during 2019.
Based on the Metals X Limited ASX release dated 11 June 2020, the Nifty copper project scoping study did identify a long life open pit with positive economics with a pre-tax IRR of 50-54%, albeit the pre-tax NPV10% was only $170-190 million at the then long-term copper price of A$8,500/tonne.
https://www.metalsx.com.au/wp-conte...oping-Study-Identifies-Long-Life-Open-Pit.pdfI will be very interested to see what CYM can do over the next 12-18 months, as the new owners of the Nifty copper project, in terms of:
a) Publishing a JORC Ore Reserve for Nifty; and
b) a Nifty PFS or FS.
Cheers
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.
(20min delay)