Cape Breton's Last Underground Coal Mine

Another article was just published this morning speculating about the Donkin Coal Mine's reopening: 'Coal’s last chance: It may be now or never for Cape Breton’s last underground coal mine' click here to read.
Coal mining is embedded deep into the history of Cape Breton and the people of Nova Scotia need more jobs and lower electricity costs. The majority of the province supports the mine.
Kameron Coal spent over $300 million developing the mine and has been spending a fortune since March 2020 keeping it dewatered and ready to reopen. Including the initial work done on the mine that was funded by the government decades earlier total CAPEX spent on the mine has been an inflation adjusted $600 million. Only about 3 million tonnes of the 451 million tonnes of coal resources have been mined so far!
If they weren't going to reopen, they would have sold the mine by now for $500 million+ in cash. Look at Colonial Coal (TSXV: CAD) for example it is merely a coal exploration company that hasn't developed their mine yet and it's worth $288 million because it has one of Canada's few remaining coal resources left! In our opinion, Morien Resources (TSXV: MOX) deserves a higher valuation than Colonial Coal (TSXV: CAD)!
People don't realize how valuable Morien Resources (TSXV: MOX)'s royalty is. At current coal prices MOX's royalty could generate $20 million+ per year for 30+ years!
We are much more bullish on gold than coal and believe Augusta Gold (TSX: G) is about to become the next billion-dollar market cap gold producer.
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