Hmmm, i assume, Ed, you meant Copper not Cooper the three times you mentioned it. (Funny, my wife and i just watched a long special on actor Gary Cooper on TCM channel two nights ago).
Of course in your scenario one would and should "go for the gold."
In fact i posted a few times about this very thing last summer, and wrote AMY mgmt at least once, saying that AMY should perhaps, in this difficult macro-economy, start first with a small, easily-permitted EMD-into-LMD operation and establish some positive cashflow before taking on a 3,500 tpd (now 7,000 tpd) EMM mining/processing operation. Just 5M lbs to 10M lbs a year of EMD (not 100M lbs/yr of mainly EMM) could conceivably generate 8-15 cents of EPS if indeed there were gross profit margins of around $5 on selling LMD produced out of that EMD.
But i was told via IR that EMM would be their "bread and butter" if i recall correctly the email i received.
Everyone likes to blame Larry Reaugh here, but i think it was QP Norm Tribe who bamboozled everyone for a few years with his crazy PEA numbers in 2009 about the EMM biz's likely CAPEX and OPEX amounts. Granted, 2009 was a recessionary / deflationary time, and many were calling for a double-dip recession, and prices for everything (oil, equipment, etc.) were much lower, but they weren't THAT much lower and i think Norm Tribe should have baked into his model some higher costs based on a likely upward rebound in prices for lots of things.
Well, all of that is crying over spilled milk, as the saying goes.
I still remain optimistic for some kind of deal with AMY's battery segment going forward. Patience will likely be needed unless something develops fast.
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