Indonesia promises Freeport to extend Grasberg contract
The approval will include “the same rights and the same level of legal and fiscal certainty provided under its contract of work,” the company said without elaborating.
Silvercorp announced on Thursday that it received a positive preliminary assessment for its Silvertip silver-lead-zinc project in northern British Columbia. Silvercorp's stock was up 4% on the TSX on Friday.
The report prepared by Golder Associates favoured a small mine and mill operating seasonally at 500 tonne per day or 72,000 tonne per year.
"The initial capital cost of the project is estimated to be $US49 million with sustaining capital costs over the remaining mine life (21 years) estimated at $US54.2 million. The payback period is estimated at 4 years for the base case and 2 years for the upside case after reaching commercial production."
Market strategist Robert Griffifths reckons that many Western analysts and journalists just don't understand the driving forces behind gold and silver investment