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@RocketRed @BenjaminCox $BAY where are the last 9 drill holes your over a month late now?
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from #index,
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@nobshere @BenjaminCox Ben hello hello
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from #index,
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@BenjaminCox Sorry, chatting in side room
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from #index,
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@PamplonaTrader We've also had our thesis challenged by folks like @BenjaminCox and @90bigpicture. You'll find that these people are well respected by our group. I've even invited @BenjaminCox to the PTCharts private channel for further discussion.
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from #nxe,
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@BenjaminCox @Sarb yes we found out yesterday, and released it ASAP.
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from #bay,
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@BenjaminCox @Sarb yes we found out yesterday, and released it ASAP.
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from #index,
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@RocketRed $bay needs a new project Lets go @BenjaminCox
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from #index,
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@BenjaminCox We have a couple, that we have not been focusing on due to them not being material to a top 3 mining company, including a decent Zinc asset, and a core copper asset that has lots of historical work, the work with our past partner was focused on finding the huge asset, the multi billion dollar home run, and they had no interest in our Zinc that is all of 300m from the ocean and well drilled for example.
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from #index,
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@BenjaminCox Actually I am pretty happy with the work we got done for 0 dilution, and I think we are going to impress with our plan over the next 3 months.
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from #index,
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@RocketRed @BenjaminCox how much money left in the till $BAY
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from #index,
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@BenjaminCox 2 years g/a +1m and no real accounts payable $BAY
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from #index,
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@tommy @BenjaminCox congrats on getting the project back and 2000 meters of free drilling!
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from #index,
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@BenjaminCox @tommy and a whole lot more understanding of the project and the prize, that was a lot of dilution we spared ourselves...
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from #index,
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@Sarb @BenjaminCox - One thing that I like about you is that you've always avoided dilution. Good luck you your next project.
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from #index,
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@BenjaminCox @sarb I will continue to assess dilution vs work and make calls, a sloppy structure is no way to win in the long term, but dilution is not all bad. As an ex hedge fund guy I like selling out of the money options, on stuff I can't afford to touch anyways, and when they come back, oh well. Tom as CEO is also doing his part, I am really impressed with his handle on the geology and team building.
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from #index,
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@BenjaminCox I will let this channel get back to the regular programming, and both me and Tom are on the phone today if people want to talk.
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from #index,
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@Alockett @BenjaminCox would you be able to provide some insight on what the companies plans are for 2017?
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from #bay,
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@PamplonaTrader @PhotoJ while I believe this lithium cycle will last longer than most expect -- the market is under estimating future demand and over estimating the ability of the various market participants to bring new projects online and to reach target capacity -- My preference is to invest in near-term production stories for the reasons communicated by @BenjaminCox https://ceo.ca/index?1f9c3cebb01b and @jayfire https://ceo.ca/cre?f1af7a726186
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from #lithium,
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@MiningBookGuy @Gianni @BenjaminCox cross-over with this $CBK news, that's cool! Thomas Ullrich, CEO of $BAY, now a strategic technical advisor for $CBK. And William Willoughby, formerly with International Enexco. #copper
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from #index,
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@BenjaminCox @lukejackson we at $bay have interest from other areas then our former partner, and from people who have spent more time doing Sed hosted copper
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from #index,
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@BenjaminCox I did not take it as a dig
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from #index,
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@BenjaminCox I am still a significant shareholder, believer, and I like tight structures
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from #index,
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@BenjaminCox will not be OT as we are looking for Sed hosted, but yes sounds like a good idea.
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from #index,
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@BenjaminCox Not to push other stuff, but the soils map shows the extent of the strike, it is like owning a good chunk of the whole Congolese copper belt in one company.
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from #index,
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@BenjaminCox I can answer some questions, 1) we don't have a resource so we can't comment on enough copper, but there are some decent by global standards intersections. 2) The scale of the investment wholly depends on the product sought. I am supporting the ore sorting team at Outotec and if you put in a small capex plant coupled with decent intersections, you can reduce the capex. 3) Tom is buying, I already own a few million shares I think 4 +. I think it is a great deal for the risk reward, but I am management.
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from ~mining syndicate,
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@BenjaminCox Cominco's goal was unrealistic they wanted 40mt of 4% from the core showings within 100m of surface, considering I think our average grade of an intersection is 1.8%.... They drilled from 1996-2000 a period of copper price softness.
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from ~mining syndicate,
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@BenjaminCox The thing is CAPEX is really dependent on the path you take to get product to market, and the product that you deem economic.I am working on a project where the con grade is way to low, but the cost to upgrade the equipment will pay back in months.
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from ~mining syndicate,
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@BenjaminCox the biggest take away I have with my dual role, is consultants sell studies that work of the same process and precious little time is spent on economics or process changes. These are not bad consultants, actually I think they tend to be pretty good at their job, but real solutions requires turning most projects around and changing the question.
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from ~mining syndicate,
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@BenjaminCox Its not that they want to do it, but the whole point of how they sell that phase is how cheaply can we do a study, not do we have an extra year to play with economic models to find what would make this "proeject" shine. 60% of my job at Outotec is to review projects and figure out how to make them shine economically, and figure out the value proposition. I have time as a i have global mandate and I can choose the projects I want to work on.
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from ~mining syndicate,
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@BenjaminCox It is fairly widely used in Diamonds, but in minerals it is not widely used
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from ~mining syndicate,
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@BenjaminCox You need a uniform rock/waste ratio, if you have 20 ore types and 2 metals and something complex it does not work as well.
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from ~mining syndicate,
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@BenjaminCox It does not work unless you have contrast, and uniform contrast that drives ore types.
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from ~mining syndicate,
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@BenjaminCox Great discussion, been too busy to comment, but at some point I will pipe in with 2 cents on this.
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from ~mining syndicate,
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@BenjaminCox I am Europe 1-2x per month, PM me and I can do coffee,
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from ~mining syndicate,
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@BenjaminCox I know Europe is massive, but I tend to get around.
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from ~mining syndicate,
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@BenjaminCox I have done since November 8-10 cities for meetings, Frankfurt 2-3 times for example.
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from ~mining syndicate,
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@BenjaminCox But with Ryan Air a coffee can be cheap $40 airfare to meet up, and I tend to hit most major cities most quarters these days.
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from ~mining syndicate,
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@BenjaminCox 25-75% Outotec, is my guess.
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from ~mining syndicate,
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@BenjaminCox There is a lot of overlap
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from ~mining syndicate,
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@DanO I am doing three or four different things right now and I am not @BenjaminCox so I'll have to leave this forum for now and get back to giving some info and a map to a co interested in some claims. But I am glad to have joined you. Cheers.
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from ~zinc,
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@BenjaminCox @Brandon actually a good prospect generator can be private, and just pay dividends in shares of deals to its shareholders... I think private is the only way to go...
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from ~mining syndicate,
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@BenjaminCox Just assume $5m in capital, and $200k/y in public co costs.. that is a 4% fee for liquidity, that if you just offered a bond style 4/20 management fee, and 80% of shares gets spun out to shareholders after hold + royalties are bulk sold/reinvested you would have a very attractive structure
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from ~mining syndicate,
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@BenjaminCox That gives you $200k for salaries + 20% of the take, assuming you can get $500k in shares/year + royalties, you are giving investors 4% in stock as dividends + upside from royalty portfolio.. Shareholders have to be willing to trade junior paper, and get paid in it. BTW I think with active management and $5m in capital, and no public market overhead, you should be able to generate $1m a year in paper + royalties.. Not going to get rich, but with 2 FT employees and a quarter time lawyer you are going to do just fine.
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from ~mining syndicate,
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@BenjaminCox @Brandon based on real data with $5m of assets I doubt you can run the back office/being public included exchange fees at $200k/y
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from ~mining syndicate,
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@BenjaminCox and if I was a company, and the stock was either held by 3-4 investors or widely held I don't think dividend policys would be bad.
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from ~mining syndicate,
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@BenjaminCox A private company with $5m from 2 investors can run its back office for $2k/m including a $10k/y audit, Its just that much cheaper as the audit is simpler, the paperwork is simpler, and the paperwork is simpler. Heck the TSX wants to review every transaction of a public company, and get paid..
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from ~mining syndicate,
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@BenjaminCox Coming back from Chile, and popping into the index, and it is like I never left it the last time 4-5 days ago when I checked it. The shear amount of repeating on ION was educational, then interesting, then a show that I could not stop watching, and now it is just over over way way over hashed. Allan has to be 30% of the posts on this site (I know I am over estimating), but when he is not walking his dog he must be here. Just reduces the ability to justify posting.
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from ~mining syndicate,
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@Vaughan Agreed @BenjaminCox, and though you might be exagerating on the shear volume of posts by allan alone, add in allbshere and lowball, and you easily have 30%+ of all posts to the index. I think it should be made clear as well that though the three amigos like to point to "who posts the most" and "everyone else are just lurkers", i imagine many, many users simply do not post on the index because of the monopolization of air time.
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from ~mining syndicate,