Loading ...Sometimes McEwen gets Lucky ! Last year he would have sold the Copper project in Argentina ,but he couldent find a buyer that wanted it at the then copper prices .He just waited and Copper took off ,but it still takes a lot more money to open a copper mine than a Gold mine ,probably a billion ….The projects tend to be bigger and take 6-7 years ….his mine will have a life of 30 years ….I think he would rather mine GOLD .The payback is FASTER …and not too far in the Future ..If he tried to develope that Copper ..he would run out of money before it even came close to having a CASH FLOW …and he KNOWS it! Its better for an existing Copper miner to do it…They plan long term…Thats the nature of it….
Anyways I ‘d rather be Lucky than Smart …
I would TRADE that Copper to a existing Copper operator in exchange for a Gold Silver Royalty on the existing copper mine …That makes sense for BOTH PARTYS.. The existing copper operator dosent need the cash NOW ,he’s already in operation McEwen needs cash NOW to buy Au&AG mines that are close to cash flow..in development (withen a year).
I would trade that copper for a cash flow stream…its a perfect fit…