50 % is 50 % is 50 % is 50 %
posted on
May 08, 2014 03:37PM
Goldhunter..............fror public consumption
Very valid points...50 % is rich and I think it's around 650 metres of strike 1300-1950. It is hard to tell....just by the "coloring" of the map. This is on purpose.
The lumber folks...own the 50 % JV and small outcropping.
His plan to go with High grade and 2500 ton per day mill. Plays right into their hands or so they think....as 50 % is 50 % of the cost of capital and 50 % of the operational costs as well as 50 % of the profit.
So the real Question is this..
I need to cough up 125 million to purchase 1/2 of the project and share in the annual operation 50 %....and say we make 300 an ounce
Is it worth it ? I mean I just got the frick out of the lumber business...and now you want 125 million my 50 % share of the cost of a mill.
If I was wearing those shoes ( size 16 EEE ) I think I would bough out for an NSR @ 3 % on all lands and 10,000,000 in cash now 20,000,000 in cash when the mill is operational. Let PRB take all the risk ! Let PRB set up a small mill. Let PRB take all the profit...if their is any.
Buy a very expensive Adirondack chair and 40 year old scotch. Relax...!
Ever notice the PEA applies but never really works out...kind of like the first time...you buy an expensive dinner at the Keg for a girl and all she talks about is her fiancée.... and bisexual life style.
Mines always cost dramatically more than people think to start-up. The more Frugal the CEO the slower but more cost effective the process.
PRB is now my slow burn hold but I am 50 and would like out in 5 years....I can more than tolerate this.
You bring the shovel
I'll bring the lime
Why ?
Because I am Captain time.............