Thanks for that jj2. I was basing my speculation on how Creasy has done business in the past. It's true only BAR/CNJ have an economic resource, and Creasy does not, but on the other hand, Creasy can wait forever, while BAR/CNJ cannot. His 16Mt portion could well be the missing ingredient to a successful mine. I'm sure he knows how to use what he has to drive a deal. Free kicks is his business model. Obstinance on BAR/CNJ's part would just cause delays or even failures.
Where did the 50M figure come from? I would think 16-20M would be closer for PlatX's northern tenement, based on CNJ's market evaluation prior to the SS (about $1 per in-ground ton), 70% being 11-14M, plus whatever exploration and admin costs. But I don't really know how to put a value on such things.
Also, Creasy's tenement to the south of the main project also holds roughly a further 8-12Mt, defined by PIO in the past.
And on selective mining, I think the asbolane is more or less uniform, there are no intensely rich or poor spots like in other deposits. IMO, it would be better to process more tonnage (thereby lowering per unit capex), extend the LOM by acquiring both adjacent tenements and get the project up to 60Mt.
CNJ Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
