Investors price what a business keeps. In resources, that makes margin capture — how much of each dollar stays in the business — matter as much as the quality of the orebody itself.
Grade gets the attention. A high-grade deposit is a genuine asset, and geology will always be part of the resource story. But grade describes what comes out of the ground, not what reaches the income statement. Between the two sits the marketing and trading margin — and where that margin lands has a large say in what a business is actually worth.
Where the dollar goes
When a producer sells at the mine gate and lets a third party carry the metal to the buyer, the marketing margin leaves the business. When the same group captures that step, the margin stays. Two companies can pull identical metal from identical ground and report very different economics, simply because of where in the chain the value is kept.
This is the logic behind Purebase's model. By owning the route to market — working from a secured, aligned source of supply through the Coreter relationship — the marketing margin between the mine gate and the buyer is captured in aligned hands rather than paid away.
“Investors price what a business keeps, not only what it digs.”
It does not replace the orebody, and it makes no promise about price. It simply ensures that more of what the metal is worth survives the journey from the ground to the sale.
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