Crux interview (Must listen):



  • FNX Mining was the best performing stock between 2000-2010 on the TSX
    • Went from $0.25/share to a high of $39/share
  • Bringing on second drill rig sometime in the next couple of months
  • Footwall deposits are Copper + PGM rich and can have appreciable nickel
  • Flexible metals mix in one mine
    • Copper PGM mine
    • Nickel mine
    • Both footwall zones are in Sudbury breccia, one being nickel rich and other nickel poor
  • Sees production as low risk and does not want to take on debt before being an established cash flower
  • Toll milling means in theory having a flexible mill with 0-7,000 tpd capacity
  • Expecting to prove up more Contact Style mineralization and find Footwall deposits at Crean hill
  • Selective mining
    • Doubling of grade example: C$1,452/t (~4% NiEq)
    • 50,000 bulk sample = C$72.6 M
    • 1,000 tpd * 350 days = 1,000 * 350 * $1,452 = C$508 M/year
    • 500 tpd = C$254 M/year


McCreedy West



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