Crunching the Historic Clinton Numbers
in response to
by
posted on
Oct 15, 2014 10:14PM
Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.
From the 14 October 2014 News Release:
“Total historic mineral resources on the Clinton property are as follows:”
Zone A : 305,000 tonnes at 2.33% Cu, 2.22% Zn
Zone C : 330,000 tonnes at 1.77% Cu, 0.64% Zn
Zone E : 15,000 tonnes at 1.70% Cu, 1.09% Zn
Zone F : 270,000 tonnes at 2.03% Cu, 2.14% Zn (South lenses)
Zone F : 80,000 tonnes at 2.67% Cu, 0.52% Zn (North lenses)
Zone V: 880,000 tonnes at 1.32% Cu, 0.42% Zn
Zone O : 110,000 tonnes at 2.65% Cu, 2.43% Zn
Crunching the Historic Clinton Numbers:
1 metric tonne = 2,204.62 pounds (lbs)
Zone A = 15,667,132 lbs copper – 14,927,482 lbs zinc
Zone C = 12,877,185 lbs copper – 4,656,157 lbs zinc
Zone E = 562,178 lbs copper – 360,455 lbs zinc
Zone F (South lenses) = 12,083,522 lbs copper – 12,738,294 lbs zinc
Zone F (North lenses) = 4,709,068 lbs copper – 917,122 lbs zinc
Zone V = 25,608,866 lbs copper – 8,148,276 lbs zinc
Zone O = 6,426,467 lbs copper – 5,892,949 lbs zinc
1 USA Dollar = Canadian $1.13 (There’s been a major decline lately)
Total Copper = 77,934,418 lbs @ US$3.01 lb = US$234,582,598 = Canadian $265,078,336
Total Zinc = 47,640,735 lbs @ US$1.10 lb = US$52,404,809 = Canadian $59,217,434
Total Spot Market of the In-Situ Copper and Zinc = $324,295,770
$6,485,915 = Two Percent of the Historic Clinton In-Situ Resources
$6,945,462 = Market Capitalization of Fancamp
Sources of the Spot Market prices:
http://www.finviz.com/futures_charts.ashx?t=HG&p=d1
http://www.wallstreetdaily.com/2014/09/22/zinc-prices/
On 22 September 2014, I posted a message, which pointed out the “quite positive” Sector Newswire was not positive enough because it exhibited little research and investigation. In order of importance, I named four significant properties that Sector did not even mention in its report. Clinton (together with its adjacent Alder Pond property) is number two of the four properties that Sector left out.
http://agoracom.com/ir/Fancamp/forums/discussion/topics/623177-lamelee-update-9-19-2014/messages/1953672#message
In terms of exploration money spent, Stoke Mountain (number three of the Sector overlooked properties) is close behind Clinton (with the adjacent Alder Pond). What’s very noteworthy about Stoke Mountain are the drill results, especially the one of 7.29% Copper over 6.40 meters. The worldwide average of mined Copper deposits is slightly below 0.60%.
Sources of Copper purity information:
http://www.polymetmining.com/wp-content/uploads/2013/02/PLM-Investor-Presentation-2014-09-no-video1.pdf [page 15]
http://copperinvestingnews.com/what-makes-a-world-class-copper-deposit [paragraph titled “Average Grade”]
Although our Copper Resources are not world class, I stand by the understated opinion I posted 6 September 2014 (when our market cap was $7.04 million):
“Of particular interest to me are Fancamp’s copper properties (not including the gold properties) in Southeastern Quebec (south of the St. Lawrence, close to Maine). Leaving out every single other thing about Fancamp, I’m convinced those copper properties alone are easily worth more than our $7.04 million market cap.”
http://agoracom.com/ir/Fancamp/forums/discussion/topics/622071-negative-2-389-292/messages/1949445#message