Rewind back to August, 2009, to an exciting meet with Pacific Booker Minerals (PBM), of Central British Columbia, Canada, who revealed that come 2012, the company plans to hit production at its Morrison copper, gold and molybdenum project. One year on, the good news continues to flood in.
Pacific Booker Minerals Inc. (PBM) is working to develop the Morrison property, which is a copper, gold and molybdenum deposit.
Gregory R. Anderson, President and CEO said, “We are making progress. Lately, all of us at the company are pleased to have essential milestones towards commencement of construction.”
Today it is the sole project for PBM and the company is putting all of their hard work and attention towards its development. Morrison is ideally located just 29 kilometres away from two former producing copper mines, Granisle and Bell.
“One of the outstanding things about The Morrison project is that it’s the only one we are working on,” said Anderson. “It is in an area of prolific mining since the 1950s.”
Wardrop Engineering Ltd., a Tetra Tech company, has finished the NI 43-101 compliant Technical report. They are currently proposing an open-pit operation for production of copper, gold and molybdenum from Morrison.
Anderson says, “The study describes the scope, design features and financial viability of a conventional open pit mine with a 30,000 tonnes per day mill.”
An environmental assessment has been completed and accepted by the British Columbia Environmental Assessment Office.
This environmental assessment certificate is a requirement to apply for certain permits necessary for construction, operation, maintenance and reclamation of the mine over a proposed 21-year timeframe.
Anderson says, “The environmental office has accepted our environmental application. Which we need to get our mining permits. We’ll be doing a lot of engineering and putting out our construction, contracts—seeing who we are going be working with and procurement. We are probably going to manage the project ourselves.”
Included in the Environmental Assessment is the total mineable reserve, which is classified as proven, and probable, the waste total, recovered metal, a mine life of 21 years, and a capital cost estimated at C$516.68 million. In the assessment an operating cost of C$8.15 per tonne milled over the life of the mine was also assessed.
The company prides itself on the way they handle business. They completed a compliance and feasibility report last February, which puts the company in a very good position.
Anderson says, “The report was extremely positive, especially with metal prices today it puts us in much higher MPV than what was reported in the technical report. It’s going to lead us to successful certification and put us into mine production.”
They have also submitted a number of other permit applications for review including the Mining Lease application, Licenses of Occupation and Forestry permits and licenses.
The Morrison deposit is a stand-alone project and the area has a lot of already existing beneficial infrastructure. It has a deep-sea shipping terminal at the port of Steward, a nearby hydro electric power just 20 kilometres from Morrison, two forestry camps for preproduction use, and the village of Granisle is only a daily commute away.
Pacific Booker Minerals has a place in the market, and hopes to see growth with the inception of the Morrison project.
“I would say from a market standpoint we are extremely undervalued. We only have 14 main-shares out. I guess our company could very easily trade much higher figures. We are a great buy and we have a great project and just about to start production.”
Pacific Booker Minerals has worked hard to respect the land and the workers and to keep up ethical practices in their work. It is extremely important for them to keep up this level of respect and Anderson believes it to be one of the mining businesses biggest challenges.
“I think that I would say that one of the toughest challenges in the mining business today is respect. You have to put together the right type of baselines and search stats so when you go into do a project like Morrison. You have to respect the people and respect the land.”
With gold prices at a high, the company is in a good position with Morrison. They have a focus on mining for gold and once the Morrison project is underway the company will be well on their way to becoming a major gold mining company. Analysts say gold could hit $1,300 an ounce before the end of 2010. This price set is extremely beneficial for PBM, providing it the opportunity to become a very successful gold mining venture.