I agree with most of what you say except for the "on schedule" comment. Management here has not shown an ability to properly manage the build out of the new property. Time will tell if they have more time delays and associated cost over-runs. They have a cushion with the capital raise but we'll see.
Pressing continue to churn out dollars and Euros. Eventually metals will pick back up.
Just to clarify, I am looking at an "on schedule" mine start to be in Q-1 2014. That gives them about a 6 month cushion over what they are saying publicly.
Frankly, I fully expect them to beat those expectations. These are very smart people, and I think they have learned a lot, the hard way, in the last 12 plus months. However, I freely admit that is simply speculation and a gut feeling on my part, and I have no inside knowledge that may in fact be the case. Call it a very strong gut feeling, and no, I can't quantify it but I have learned in the past that I am right more often than wrong when my gut tells me something. Let's hope it is this time, yes?
Retoaba, Appreciate your optimism. I wish I could concur. On the one hand I wonder if the company is priced at bankruptcy breakup sale prices. On the other hand, I am wondering if the company has vastly overpaid for the Mt Milligan property.
The only thing that makes me suggest this is the fact there has been such a drip-drip-drip of negative news out of the company over the last 9 months. You reach the point you're wondering what is the next shoe to drop.
Mt Milligan is going to be appreciably more complex to operate than Endako or Thompson Creek. The question here is: does the company have the technical expertise to mine gold and copper simultaneously? We know they can successfully mine molybdenum. But what about copper and gold?
I'm not a mining technician, but I would hazard a guess and say that I think it WILL be more complicated and therefore more potential for production delays and revenue shortfalls.