Wake up Ubull, and please start your research by reading the original bmn scoping study !
It was prepared by experienced Geologists (Coffee & co.)about 2 years ago
They confirmed the project was economical & very profitable back then based on production costs of $22.47 per pound & a sale price of ( wait for it!!) just $45....even tho the long term price was & still is about $60 something.
As tibbs highlighted the BFS engineers are decreasing production costs down to $19 ...so I won't repeat that.
The mine will produce approx 7 million pounds per annum at gross profit of say $40 a pound .... Somebody do the math & let us know.
After the scoping study I bought a lot more shares coz I had (& still do) have confidence in the company building a profitable mine ASAP.
So far in the 3 years I have been a shareholder the company has delivered;
with drilling results ( increasing resource size) ; also they have secured BFS financing($20 million) plus they have /are increasing qualified staff to run the mine.
You are entitled to your opinion here, of course; but so far very qualified geologists & engineers are preparing detailed plans to build this mine. .....and you post on here they are wasting their time & our money!!
You'll have to come up with something better than that.
Ubull ; this is the first time I have noticed your posts on bmn & I too reckon you should research a lot deeper before telling us the mine will not be economical.
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