Ivanhoe Mines Ltd (IVN)

[ryanonthevedder]

The Kipushi mine is approaching a milestone in the dewatering program soon. The company plans to have the water pumped down to the 1270 meter level in Q1 2014 (so February 2014 or so). This is an important level because there is a major pump station at the 1207 meter level. Once this station is refurbished and operational it will allow for a more aggressive operation on the underground portion of the mine.

Expect to see major developments on this project throughout 2014. The rehab project is FULLY financed through cash on hand!

Big Zinc deposit discovered but unmined

Zinc on hand - 4.04 billion lbs @ $.85/lb = $3.42 billion
Copper on hand - 79 million lbs @ $3.30/lb = $260 million

Historical estimates for the whole mine?

Zinc $5.32 billion
Copper $2.7 billion

Mine has potential for $8 billion production not including future exploration.