$VGCX.TO: PWC details Victoria Gold’s assets & debts

Assets stood at C$824.75 Million, the majority consisting of property, plant & equipment of C$442.6 million and inventory (on the pad?!) of C$224.7 million. Cash, just C$24 Million.

Debts stand at at least C$300 million owed to 424 creditors.

89 Yukon-based companies are owed just under $42 million, representing 50.7% of the total unsecured debt.

#BHP’s Bid for #AngloAmerican is Laden with Potential Pitfalls & Challenges…

Buying $AAL.L means $BHP would gain access to 3 of world’s largest #Copper mines.

Merger would improve BHP’s exposure to copper by ~40%—and more significantly—give it 10% of global copper production.

This, however, is likely to lead to significant anti-trust/competition scrutiny in Peru and Chile—not to mention South Africa. 

#Copper: Higher, Harder, Longer

It's getting harder & more expensive to get #Copper out of the ground

Great report from Bloomberg on the difficulties facing the #Mining industry in meeting the growing need for more Copper.

After more than a century of commercial production at Chile's Chuquicamata reduced the amount of ore that can profitably be extracted from surface, two decades ago state-run Codelco began drawing up plans to build a modern underground mine at the site to tap the riches deep below. The company originally envisioned a $2 billion investment. By the time its board signed off on the project in 2014, the budget had risen to $4.2 billion. At the time of the 2019 ribbon-cutting, it had climbed to $5.5 billion. The latest estimate, including related infrastructure, is $7 billion, making it the biggest outlay Codelco's history.

Those obstacles can drain miners' enthusiasm for new projects. Goldman Sachs Group Inc. estimates the industry needs to spend