As per conference call, no prospective buyer has seen Los azules yet. So my wish of keeping Los Azules thru a couple of more PEA's is looking good. Im expecting equity financing and/or creative financing to fund El Gallo. In my view this has always been the game plan, unless a premium was offered. I think Los Azules was placed in the the market just to help gauge any future evaluations. In 2 years Los Azules will very quickly make you forget the dilution that will certainly take place . My estimate Los Azules value will be north of a billion.
Read, (if you have not already done so) Northern Miner Report, found in Media section of MUX homepage. Excerpt below.
“Changes by the Argentine government regarding repatriation of export revenues have led management to focus on potentially monetizing the Los Azules copper project to fund the $178-million initial capital expenditure outlined in El Gallo’s phase-two feasibility study,” he writes in a February research report. “The company recently opened a data room and hired an investment bank to facilitate the projects.” But if the process isn’t wrapped up by this year’s fourth quarter, Stanley says the company “will either have to raise funds or put development on hold.”
What going on Robey...Obviuosly anything can happen but with each passing day the chances of selling Los Azules dwindles. As you know I've always been against the sale of Los Azules until we optimized the deposit from day one, unless of course we were pressured to do so. In just 3 years, the value of Los Azules has nearly tripled with no major "deep" drilling ( thats where all the copper is) being accomplished, up until recently. So far only had 2 PEA’s or scoping studies that were considered preliminary have been completed and the resource needs at least two more seasons to become much more clearly defined . Thats when Los Azules really becomes a major, major copper deposit. I wouldnt sell my house today knowing in all probability the value will double in a couple of years.
Wow! You still don't get it. Don't you see that A lunatic socialist government will wait until all the work is done and everything in place and then just swoop n and take it ? Again! No one is buying and even worse is if McScrewen blows anymore money on it , it will all be for naught. You talk as if there is no chance of this happening. Please tell me that your not that naive.
It is a lunatic running Argentina, but for her own benefit and why wouldn't you want someone else to fund development before nationalization or confiscation? Good political game plan to me. Country wins, she gets the spoils and foreigners take it in......and if she offers loans she gets kickbacks