More info to help people understand what's going on abroad:
Study: Hunter Dickinson company. We are modeling ourselves after them.
http://www.businessweek.com/news/2012-06-18/lumina-copper-invites-bhp-deal-with-argentine-discount
http://dailyreckoning.com/invest-in-copper/
http://paydirtmagazine.com/2011/01/whats-a-nickel-a-pound-worth-to-big-copper-producers/
More from Peru: http://miningmarketwatch.net/drv.htm
3) TSX: CUU Copper Fox Metals
Shares outstanding fully diluted 377 million
Highlights: High insider ownership, lots of insider buying, HUGE deposit, safe mining jurisdiction, possible Teck buy in clause, ongoing drilling indicates huge upside on underground mine, updated resource estimates looks good even though the market was not satisfied, robust feasibility report pending, North West Power Line has been approved . The cost per copper pound for this is negative 32 cents so again on my top three stocks I am stressing low cost producers, copper may be at 4 dollars today but 10 years down the road who knows, as we all know mining is a very cyclical cycle.
The Schaft creek project is not as highly advanced as the last two but it is one of the worlds biggest undeveloped Copper Moly Silver Gold project. This project contains 7.8 billion pounds of copper, 7.9 million troy ounces of gold, 69 million troy ounces of silver, and 583.2 million pounds of molybdenum, expect most of these numbers to double before everything is said and done according to my rough calculations as many new holes have to be accounted for and Schaft creek is a lot deeper than initially expected, The CEO has personally told me that Schaft creek is at least double what’s on paper. Annual production will be 211 MILLION LBS COPPER, 199 THOUSAND OZ
GOLD, 1.4 MILLION OZ SILVER AND 11.3 MILLION LBS MOLYBDENUM. The exit strategy for this company is a buyout from Teck I believe management has no intention of developing this project. The ore body on this is very simple to mine it is a typical Porphyry copper deposit
My main concern with this project is that capital costs for this mine are 3 billion+ without a Teck buy in it would be very hard for management to raise this kind of money, but I am almost 100% certain Teck will not let this giant gem slip.
