Minco silver has probably one of the most economic silver desposits in the world . With the exploding silver price the economics are very very good.
Where you can find a 3000 T/day mine with a capex of just over 70 Million Dollar .
5,5 Million silver ounces / year with very low cash costs . About 5 Dollar all in .
Even with silver price at 13,5 Dollar the mine is economic .
The FS is showing very very good economics with only 55 Million ounces of silver . And much more in the ground !!
The IRR at current silver price at 28 Dollar is about 93 % before tax and the NPV just over 400 Million Dollar ! Fuwan has now a resource of about 250 Million ounces of silverequivalent and i think this could be doubled .
Looks evrything pretty nice . But minco is getting no permit for mining since 10 years . Management says nothing , no mails are answered. Fuwan is a projekt with a lot of super green flags and red flags . I hope ,that management will wake up , because silver is the metal of the decade now . And China will need a lot of silver i the next years . The downrisk is not big , with about 65 % of the marketcap in cash . And 15 Milion Candollar for 250 Million ounces silverequvivalent is also not expensive .
