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Message: What we need
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Jul 02, 2014 09:36AM
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Jul 02, 2014 04:47PM
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Jul 02, 2014 08:05PM

Well, the PEA is delayed but I am not sure that really matters at the moment. We know that the 43-101 used a price of $8,500 and word from the office was the PEA delay was partly to do more work to get that number higher. Regardless of the number used, there will still be a certain level of disbelief in the number until they can announce an off take at that or a higher price.

We know the resource is there and is of high quality. We even know the resource number is conservative. We know at $8,500 this is a rich deposit. Every dollar higher than that just makes it richer.

But again, I think at this point we need some kind of news that will indicate that value as a floor price. If that news came out, it would not matter what Cliff's did or did not do.

If you recall the reaction from the 43-101 (ignoring Chief's panic selling) it was essentially moot. I think we all liked the $8,500 figure, we understood RPA would not use that number unless it was valid and we know itr may very well be a conservative number.

However, I really think the market needs to see an off take.

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Jul 03, 2014 09:19AM
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