…and you’ll believe anything. For more information, look at the input prices that serious teams use for oxide operations in Chile. Start with Marimaca (MARI.to), who assume $3.19/tonne for mining and $4.95/tonne for processing in an easier and more accessible deposit with water. This PEA from WCU is a joke, Henk van Alphen is laughing at you and for more information please see “The Real Meaning of PEA“.
UPDATE: It turns out that even while writing this brief post just before the open, the first mail arrived on the subject of WCU and its PEA release today. Therefore and to keep mailbag to a minimum, be aware that a junior can reverse-engineer any old headline number it wants from a PEA. What the discerning reader needs to look at are its input assumptions, not the resulting bold-type parts at the top of any rose-tinted NR. So, when it only takes a minute or so to see “highly optimized” cost parameters and then about two or three more to spot other glaring examples of “PEA Perfection”, there’s really no point in studying the project any further and the fact that the person behind this bad joke designed to con greenhorns happens to be Henk van Alphen only goes to confirm its junk status. The end.