Value Microcaps Junior Miners

[Bobwins]

CDPR.cn/GPPRF US$.08 Cerro de Pasco finally got their permit to drill the tailings at the 400 year old Cerro de Pasco base metal mine. Company estimates 200 million tonnes of tailings in the tailings pond. They waited 4 years for this permit! They will drill 40 shallow holes to better define location of tailings from different eras of the mine. Initial ore from the mine were heavy in copper, gold and silver. Later production came from zinc, lead, silver. Due to the extreme age of the mine, the tailings contain considerable amounts of metals based on poor recoveries in the distant past. In addition, the mine was nationalized and production was emphasized over recoveries. So company should have huge stockpile of ore waiting for processing. No trucking required. There are two under utilized mills within a short distance of the tailings. They have to negotiate an agreement for toll mining but envision pumping the ore thru pipes to the mills. 40% of normal mining costs are from digging up the ore and transporting to the mill. Those costs should be eliminated for Cerro de Pasco. But they have to finish the drill program and arrange for a milling agreement. Stock spiked to US$.15 on day of announcement of the permit and has sold off to .08 now. I sold some on the spike to .15 but have bought back those shares at .08. Market should perk up again when drill program is announced and drill results are published. Results should be a huge resource of silver equivalent ounces, in the hundreds of millions of ounces. Company estimates production in 2026 but they were projecting the permit would be issued 4 year ago so take that with a grain of salt. This should result in a very low cost polymetallic producer in a couple of years but we'll see if the government of Peru is going to delay them further. Nearby town is totally behind GPPRF because this will solve the acid rain problem they have now AND provide jobs for the community. Government should be issuing permits asap to solve their environmental problem, since they owned the mine for a long period of time and are responsible for much of the current environmental problem but governments are not always rational.

Market cap is around US$28million. IF drill program is successful and a mill agreement is reached with the two mills nearby, this should be a multibagger once production is confirmed. Resource is definitely there for decades of mill production.

https://finance.yahoo.com/news/cerro-pasco-resources-granted-long-120000140.html