This feels like a legitimate breakout. https://finviz.com/futures_charts.ashx?p=d&t=GC
Thought I would revist the prices used on the latest Schaft Creek economic assessment. I had forgotten how overly conservative that they were. The PEA's NPV assumes that for the next 25 years copper and metal prices will remain at $3/lb Cu, $10/lb Mo, $1,200/oz Au, $20/oz Ag ...
Spot prices are currently much higher after just 2.5 years since the PEA (not twenty five years later).
$3/lb Cu, vs. $ 3.80 27% higher (and copper hit $4.35 this year)
$10/lb Mo, vs. $ 25 150% higher (and moly hit $43 this year)
$1,200/oz Au, vs. $2043 70% higher (and is possibly breaking out to new levels)
$20/oz Ag vs $ 25 25% higher (less than 3% of paydirt so who cares)
From the 2021 PEA:
The Mineral Resource was estimated in January 2021 and constrained within an optimized ultimate pit shell and are summarized in Table 14-12. Table 14-12: Mineral Resource Statement Category Mass Average Value Material Content Cu Au Mo Ag Cu Au Mo Ag Mt % g/t % g/t million lb million t. oz million lb million t. oz Measured 176 0.32 0.22 0.018 1.46 1,262 1.28 71 8.26 Indicated 1,169 0.25 0.15 0.017 1.22 6,503 5.69 440 46.00 Total M&I 1,346 0.26 0.16 0.017 1.25 7,764 6.97 511 54.25 Inferred 344 0.17 0.11 0.013 0.84 1,303 1.18 96 9.28 Notes: Mt=millions of tonnes, Cu=copper, Au=gold, Mo=molybdenum, Ag=silver, Mlbs.=millions of pounds, Mozs.=millions of ounces. Notes: Mineral Resources are reported using the 2014 CIM Definition Standards. The QP for the estimate is Mr. Michael F O’Brien, P.Geo., Red Pennant Resources Geoscience. Mineral Resources have an effective date of 15 January 2021. Mineral Resources are reported within a conceptual constraining pit shell that includes the following input parameters: $3/lb Cu, $10/lb Mo, $1,200/oz Au, $20/oz Ag, mining cost of CA$1.95/t mined, processing cost of CA$4.94/t processed and pit slope angles that vary from 40–44º. Metal recoveries; Cu 86.6%, Au 73%, Mo 58.8%, Ag 48.3%. Mineral Resources are rep
