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Moving along with the Canada listing now. Great idea. Pretty sure they've run out of Aussies . In my very humble opinion there is no need for a dual listing if you've got good project economics. Mega mines are expensive and costs blow out. I've always put HCH in the 'too hard' basket. 5 years ago the feasibility was 700-800 million capex job with an NPV of just 230 million or so at $3 copper (which is still LT a good price). Yes, copper prices were depressed, but so were energy and machinery prices. Shovels, trucks, diesel, electricity have gone up substantially since then. A new feasibility will be interesting, just rehashing 5 year old numbers by plugging in the copper price of the day is bush league. The HCH boys have given it a good go over the past decade, but the fluff should stop. Anyways, good luck to HCH managing to raise the billion or two likely needed. There are a tonne of marginal mega projects around the world searching for billions of capital. This one has to get bigger and bigger to make it actually attractive - which makes it even more difficult to secure funding. As a side note the ASX recently put out new rules on putting out pumping announcements. I would like to see them take this further and stop companies from saying "high grade" when there is no high grade. 1% CuEq is not high grade.
Moving along with the Canada listing now. Great idea. Pretty sure they've run out of Aussies . In my very humble opinion there is no need for a dual listing if you've got good project economics.
Mega mines are expensive and costs blow out. I've always put HCH in the 'too hard' basket. 5 years ago the feasibility was 700-800 million capex job with an NPV of just 230 million or so at $3 copper (which is still LT a good price). Yes, copper prices were depressed, but so were energy and machinery prices. Shovels, trucks, diesel, electricity have gone up substantially since then. A new feasibility will be interesting, just rehashing 5 year old numbers by plugging in the copper price of the day is bush league. The HCH boys have given it a good go over the past decade, but the fluff should stop.
Anyways, good luck to HCH managing to raise the billion or two likely needed. There are a tonne of marginal mega projects around the world searching for billions of capital. This one has to get bigger and bigger to make it actually attractive - which makes it even more difficult to secure funding.
As a side note the ASX recently put out new rules on putting out pumping announcements. I would like to see them take this further and stop companies from saying "high grade" when there is no high grade. 1% CuEq is not high grade.
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