...das is dat janze Elend von bobelles posting 
Canaccords Pescod Says This Tonight
YUKON ZINC (V-YZC) $0.24 -.255
PACIFICA RESOURCES (V-PAX) $0.85 -0.25
Many, many years ago before grey hair, kids and other things,
we were lucky enough to have lived in the Yukon Territory and in
those days the North Country was a great place for having more
than a little fun. It also has such a history of the mining industry
that it’s almost impossible to escape it. But if you have ever lived
in the Yukon, you are aware of one very important fact of life…it’s
a very expensive place to live.
When we see a lot of these potential mining projects being
talked about in the North Country, be it the Northwest Territories
and all its potential for gold and diamonds, or the Yukon with its
history of gold and copper, we wonder if people are aware of just
how expensive it can be up there. You are so far away from the
central services and everything has to be trucked to those locations
involved. It’s a big expense. Now with the global warming
and concern about these roads even being open to the Northwest
Territories, it just adds more expense.
We’ve always suggested that anyone who wanted to invest in a
project way up there, should find out what it costs to fill up a pick
up truck with gas, or what a head of lettuce costs or, what it costs
to catch a flight from Whitehorse to anyplace else.
We never wrote up Yukon Zinc that we can recollect, because
we always thought their project was simply too small in an area of
the world where costs are so high. Canaccord’s Wendell Zerb
echoed that thought today telling us that throughout its history,
he said, “there is one thing that has always come across and that
was how small the project was”. Yukon Zinc came out with their
feasibility study on their Wolverine Property in the Yukon a few
days ago and the results weren’t good. Then the stock was halted
to announce that as bad as those results might have been to
some, that actually, they were worse.
They suggested they made an error in their computation and
because of this error, the real numbers suggested increase in
mining costs from $24.93 to $35.18 per tonne and overall operating
costs per tonne moved from $90.26 to $100.51 per tonne. All
in all it means a cumulative life-of-mine operating costs just got
bounced by $54 million. Ouch!
But that doesn’t mean we escape this whole debacle because
some of the same people involved with Yukon Zinc are involved
with a zinc play we did have some hope for and are speculators in
and that’s Pacifica Resources. The difference between Yukon Zinc
and Pacifica is that Pacifica’s resource is very big—potentially,
eight to 20 times bigger! It’s in a more remote location, but up
there, big counts! Because of the association with some of the
same people, the stock gets hammered as well.
http://www.stockhouse.ca/bullb…=LIST&navmode=1&navd=fwd&
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