Gunnison webinar January 23, 2024.
I'm hitting the main points below, watch the whole thing for many more details. My take is that this will probably pay off in the long run, but you're looking at no real revenue for several more years. As a current shareholder I'm willing to keep holding (since I'm underwater anyway) but not willing to add, particularly with cash raise dilution coming soon.
I feel like they have a strong team, good concept, etc. and can be successful, but the perpetual waiting is pretty tough unless you have the patience of Job. They are emphasizing working to raise the share price in the near term but not sure this is achievable. We'll see.
Highlights:
. Johnson Camp mining and ore stockpiling already underway. JC will produce 99.99% pure copper cathode by mid-2025
. JC will produce 12k tons of finished copper/year, could be 100 mil revenue/yr. Will be publishing a Life of Mine Plan first half of this year. All free cash goes to Nuton until they are paid back. Sounds like this will take several years to achieve.
. US Gov gave 13.9 million dollar tax credit grant related to JC mine, fully transferable and can be monetized through sale to a third party. Can be used to more quickly achieve payback on Nuton's investment or for other purposes
. 10 other known deposits within 8km. Gunnison, JC and Strong and Harris combined have over 1 billion tons of copper resource
. Strong and Harris satellite deposit expected to add significant value to the overall project. Single ownership of entire Cochise mining district.
. Path to permit amendments to open pit Gunnison is streamlined. Rail link will reduce input costs, facilitate the sale of gravel and limestone overburden. Mining will be significantly cheaper than mining nearby hard rock deposits.
. Planning to add optical ore sorting tech which results in a huge cost savings. In the testing phase.
. Timeline for Gunnison has first production end of 2030
. Gunnison open pit project will require relocation of part of Interstate 10. Twyerwold spoke optimistically about this as not being an obstacle.
. In-situ discussed as a "backup" plan but my take is it's permanently dead.
. Twyerwold; Our job is to remedy the disconnect between project value and company/share value over the next 6-12 months
. Need to raise 5-6 million over the next few months to fund future activity
. Gravel and limestone opportunity can add millions in value
. Mining plan and first production can be share price catylists this year
. PFS work and permit amendments will be done 2nd half 2025. May look for a J/V partner for Gunnison after that.
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