Opinions
Andrew Cook
Western Copper
WRN-T
COMMENT
Sep 01, 2011
Have 17 million ounces of gold, 8 reserved and 9 inferred as well as 10 billion pounds of copper. Most likely to be taken out at a significant premium from the current price.
$2.920
Stock price when the opinion was issued
Mining
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BUY
Has a gold/copper deposit in the Yukon and there was recent speculation that someone was potentially looking at this as a takeover. On Boxing Day, the stock spiked up in the US and the company indicated it was not aware of anything unusual. Because it has such a large deposit, investors are looking at it again.
Mining
COMMENT
A very large, but low grade deposit. If you like to play the leverage game, this is a play that people would make. It would be a decent capital project, but would take a while to permit. They would need to produce their own power. It doesn’t make much economic sense. It would need much higher copper and gold prices to be economic.
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WAIT
It has a great management team and the Yukon is a friendly place to develop. Infrastructure is the issue. Smaller mining operations can deal with this, but lack of power and transportation are challenging. Where copper prices are, this is still too levered -- you need copper prices to go higher.
Mining
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