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Polymet Mining Corp. Message Board

jjeeddoo7 7 posts  |  Last Activity: Dec 10, 2014 1:02 PM Member since: Dec 26, 2008
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  • jjeeddoo7 by jjeeddoo7 Dec 10, 2014 1:02 PM Flag

    for the shares be4 the PEA is released in the near future

    looking for an IRR of 28%

    CAPEX 550 mil

  • jjeeddoo7 by jjeeddoo7 Dec 6, 2014 8:55 AM Flag

    from venture to Toronto,,,solid decision

  • jjeeddoo7 by jjeeddoo7 Nov 25, 2014 1:01 PM Flag

    The Yukon’s biggest resource development project is so close to production, yet seems so far away. The environmental review for Western Copper and Gold’s Casino project was stalled so that the company could further consult the Little Salmon/Carmacks First Nation. And though the company has about $20 million earmarked for the permitting and engineering process, it has none of the nearly $2.5 billion required to make the project a reality. But you won’t see any sweat on president Paul West-Sells’ brow.
    “It obviously sounds like a lot of money, because it is,” says West-Sells. But the figure’s in line with other large-scale copper-gold projects. The Casino project has an estimated 20-year mine life, and possibly another 25 years beyond that. So when you look at the commodities—“at the bottom of the market” right now, he says—you have to take the long view. “Even at today’s commodity prices (around US$1,200 per ounce for gold and US$6,600 per tonne for copper), this project is very, very economically attractive. Even if you were to take 10 per cent off the commodity prices, it’s still really economically attractive,” says West-Sells. “If the project looks good now, it should look good in the future.”
    Western Copper will be looking to bring in partners to finance the majority of construction costs, and then look to debt and equity markets to cover the rest. All this is moot until the company rejoins the YESAB process. Earlier this year, Little Salmon/Carmacks First Nation sued the regulatory board on the grounds it has the right to more consultation before Casino enters the assessment process. Since then, Casino has agreed to a consultation work plan with the First Nation and West-Sells says he expects some more agreements to be announced in the coming months.

  • Reply to

    the real facts

    by jjeeddoo7 Nov 21, 2014 4:12 PM
    jjeeddoo7 jjeeddoo7 Nov 22, 2014 2:29 PM Flag

    I will bet you 1 beer that sometime in 2015 that the warrants will kick in and the company will have another 26 million clams in the kitty from those warrants without further dilution.

  • jjeeddoo7 by jjeeddoo7 Nov 21, 2014 4:12 PM Flag

    Strong institutional demand - 1/2 the financing taken by a strategic European player.
    Deal priced at 11% premium to market; no warrants.
    Institutional demand indicative of a rare bright spot in otherwise dismal mining market.
    (Editor's Note: Investors should be mindful of the risks of transacting in securities with limited liquidity, such as WGPLF. WellGreen's Canadian listing WG.V, offers an alternative medium for transacting in shares, but also has limited liquidity.)

    Wellgreen Platinum (OTCQX:WGPLF) announced a completed non-brokered $9.1 million financing priced at C$.60 all of which was "taken" down by several strategic "major players" with deep expertise in mining and with their own technical teams who had met with Company management, reviewed the project, visited the property, looked at the core etc....... and then wrote a check.

    We are encouraged: such strong institutional interest for Wellgreen in an otherwise still-horrific market for junior miners bodes well. We note there were over 10 new institutional participants, all professionals, including a major European group with an established and very long term track record.

    Because of the structure of this Financing as a Canadian "flow through" which has favorable implications for the Canadian individuals who purchase them and the ultimate, subsequent institutional buyers, everybody wins. We estimate that, with a 4 month hold, and given the size and quality of the buyers, we are more inclined to believe they will increase their holdings in the open market adding to what is already a profitable position. We say that having worked with professional investors for the past 30 years, but market conditions etc will always be the ultimate determinant.

    While it is fair to argue about the timing and size, we point out:

    1. This "flow through" availability is limited in size and generally happens at year end, we doubt Wellgreen could have garnered a better deal out of Toronto (that is $.60 and no warrants) even after a good PEA, so it was better to take the bird now.

    2. Even if Wellgreen waited the Company would have to pay larger commissions (only 2.7% were paid on this Financing) to what would probably be the "usual suspects" of Canadian flippers. This can work out as a big deal down the road with the share structure tightening. At this moment we are beginning to see what we have long predicted as Wellgreen becoming the "go to" name in platinum/palladium.

    3. It is undeniably encouraging that professional investors are crowding in to write checks for Wellgreen at a time when mining sentiment is as poor as ever. We realize the share price is flat, yet the macro situation is not management's fault. All we will comment about some of the other "remarks" about Wellgreen is that, as mentioned above, a large number of strategic, professional investors did actual due diligence, and then invested, which should be a "tell" to others.

    4. Very few PGM projects are left with Duluth (OTCPK:DULMF) recently jumping nearly 500% on a buyout - we note if Wellgreen used the same assumptions as Duluth (who only managed to get to a 13% pre-tax IRR by using $1680 platinum) they would have something like a 60% IRR..... and Duluth sold for a much higher price than Wellgreen is currently valued.

    Moving forward, we see Wellgreen as still tweaking the new PEA looking for a "right sizing" level - it is important to note they must balance the low capex needs of a tough market and small-scale start-up with the very necessary and publicly stated intention to partner. Yes, we want it done, and engineers will tweak things forever if you let them, but still, in this market even a few percent will help - and not much will happen until 2015 anyway.

    Therefore, our internal model now has Wellgreen at around a 25,000 TPD operation and a pre-tax IRR in the mid-20% range with a capex in the $550 million range, all of which are numbers certain to attract one of the many circling potential JV partners to step up....and now Wellgreen has the cash which should get them there and move more inferred to M&I for the PreFeasibilty study.

  • jjeeddoo7 by jjeeddoo7 Nov 20, 2014 12:29 PM Flag

    latest news out a premium to market prices...that is stellar in these markets!!

  • Could Microbes Help Miners Save Millions?
    Wednesday November 19, 2014, 5:43pm PST
    By Teresa Matich+ - Exclusive to Copper Investing News

    At first glance, microbes and mining might not seem like two things that go together. However, genomics research being conducted downstream from Western Copper and Gold‘s Casino Mine project might prove otherwise – microbes may be capable of saving mining companies millions in remediation costs and environmental protection measures.

    Western Copper’s Casino project is being developed as a world class, open pit copper-gold-molybdenum-silver mine, and as with any mining project, environmental considerations are a key element in the planning process.

    The research project is being conducted by Palmer Environmental Consulting Group (PECG), one of Casino’s technical consultants, in partnership with Dr. Chris Kennedy, a professor in aquatic toxicology at Simon Fraser University. The group will look at a community of microbes in Casino Creek to see whether the organisms are contributing to a reduction in copper content in the water downstream.

    As May Quach, Partner and Aquatic Ecologist at PECG, explained in a release from Genome British Columbia, there are high concentrations of copper upstream near the deposit at Casino. However, early environmental analysis discovered that “as the water progresses downstream there is a marked reduction in copper concentrations — considerably more than would be expected from just simple dilution.”

    Quach and other researchers will be testing the hypothesis that microbes in the creek are to blame for the mysterious disappearance of copper, using biofilm profiles taken at different sites to find out just how much microbial processes are drivi

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