Baseline Environmental Impacts are Being Reassessed at the CuMo Project
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- Category: Molybdenum's News
- Published on 25 July 2013
- Hits: 379
Baseline environmental impacts are being reassessed at the copper molybdenum project in preparation for the release of a revised environmental assessment by the US Forest Service.
At the end of Q3-2013 (March 31, 2013), the company had $0.70 million in cash. The company also has about $3 million (book value) in equipment and associated inventory that it intends to sell.
The revised fair value is $0.73 per share versus our estimate of $2.67 per share at the time of our previous report in June 2010.
The valuation dropped primarily because we extended the time to take the project into production, and as the updated resource estimate showed a drop in molybdenum grades.
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