Buc - keep in mind, mining using any process in the Colorado area is going to face alot of difficulties, with more stringent regulations regarding mining, leaching, water quality etc.
We are at least one year away from a DFS taken from when we take over ownership of the rest of Hansen. There will be higher costs of production than normal due to these stringent regulations, and it will take a while to progress to being able to mine.
I'm not downramping this stock, but just trying to keep things a bit more realistic here. I'd say 2yrs minimum we are away from mining, and even then it will be hard!
45m won't allow them to mine. Especially since they would have to do their own processing too. Cotter Mill doesn't look like it will get back up and running due to environmental issues, and the costs of rectifying past damage.
Where is the information out there about getting $50m for Jonesville? Is that speculation?
BLR Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
