Agree, CYM stating a BFS coming and already have majority of infrastructure in place, any finance required would be likely a smaller quantity. Already with $50m+ in cash with refurbs happening it may well be in the $50 to $80m mark like you say.
Metals X 2018 Annual report; "In December 2017 the Nifty plant commenced production on a continuous basis after running on a campaign basis since acquisition. The mobile fleet was refurbished, new loaders were acquired and additional jumbo drill rigs were mobilized to site. The underground conveyor system and underground crusher were refurbished. There were additional refurbishment and replacement projects undertaken at the camp, power plant and structural steel works on the processing plant."
So some of the useful plant is in reasonable condition.
Recently I have been looking at Degrussa Cu/Au mine which may be comparable in some aspects to CYM Cue project although Cue not as high a grade. Degrussa Production guidance for the 2021 Financial Year is upper end of 67-70,000t of contained copper and 36-40,000oz of contained gold at a C1 unit cost of ~$0.85-$0.90/lb. Location not far from Cue but may be scaleable so will look into that a bit further.
CYM Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
