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Title : Bear Creek (BCM.v) and the art of de-risking
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Bear Creek (BCM.v) and the art of de-risking

The art is to ignore anything that is really risky and work hardest on the sequin throwing. I will now leave you in the capable hands of A. Reader, a person who has forgotten more than I know about mining for precious metals.

I love this news release.  They took a 2015 report that showed that the project was marginal at best and then updated it in 2017. The 2017 updated showed that, surprise, surprise, the project is marginal at best. No more met testing had been done on a very complex ore body and so the result didn't change. 

 

And now their review, using Ausenco's magic, has managed to turn the project into something completely "de-risked". And without even doing any more of the met testing required to decipher the complexities of the orebody. This mine has two distinct ore types that require different processing, and the bulk of the ore is "transition" anyway and no-one knows what portion of the transition ore (which is around 80% of the orebody) will be handled by which part of the plant, nor the real recoveries. The miners had trouble getting to grips with the mining plan, the processors had trouble with the processing, yet now they managed to de-risk the plant without any more actual effort in met testing. I love the magic. So far it appears that no-one has been fooled and that investors know how to read the fine print. But I wonder when someone is going to fall for the trap ...

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