Yes, tomorrow is the start of the quarter that could see a change in AVB's fortunes.
If building of the mine at AN can proceed on or better than budget and time and the following scoping study is positive, then this quarter might be 'moving day' in golf parlance.
Stage 2: Pedra Branca IOCG Project
The Pedra Branca IOCG Project is currently undergoing a Scoping Study which may lead to a “Decision to Mine” before the end of 2015. A Pre-Feasibility Study (PFS) will follow with completion anticipated by Q1 2016. Pedra Branca is considered Stage 2 of Avanco’s plan to become a mid-tier copper producer. Resource estimate expanded by 18%
Pedra Branca shares similar geological characteristics to neighboring IOCG mines and deposits. The project contains two ore bodies (Pedra Branca East and West) located 50 km southwest of the Antas Copper Mine. Pedra Branca represents a much bigger copper deposit than Antas, containing three times more copper at a comparable copper grade of 2.45%. Following a recent ~4,000 meter infill drilling program, Avanco Resources was able to grow the previous JORC Reported Resource Estimate (2013) by a global 18% or approximately 70,000 tonnes of contained copper (see July 13, 2015 news release).
AVB Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
