How much do you think the following is worth? Mt Garnet...

How much do you think the following is worth?

Mt Garnet Production Guidance FY2014/2015
Snow Peak Mining has provided production guidance for FY2014/15 from its existing mining operations at the Balcooma and Mt Garnet deposits:
Balcooma Polymetallic: ~340kt @ 7% Zn, 3% Pb, 1% Cu and 45g/t Ag
Copper: ~25kt @ +3% Cu & + 30g/t Ag
Mt Garnet Polymetallic: ~80kt @ 9.6% Zn, 0.3% Cu and 21g/t Ag

Plant utilisation set to increase
Significant JORC Resources included in the SPM acquisition 17.7Mt @ 1% Cu with multiple higher grade deposits 8.2Mt polymetallic resource Total ore feed for FY14/15 is expected to be ~0.44Mt for production of ~11kt Cu concentrate, ~10kt Pb concentrate and ~50kt Zn concentrate as well as an estimated 209koz of silver credits within these concentrates.

If the EGM is in December, then the notice to confirm must be this week or next week. Given the production could increase, I think CSD is undervalued and I think anything under 10 cents is an extreme bargain. Forget about construction, this is not funny, the plant is in production and the zinc is making money.


"While the processing plant is clearly being underutilised, it is still making a positive return for the Company. Significant opportunity exists to increase the utilisation of the plant and to upgrade the forecast production numbers once the current corporate dealings have been finalised."

According to the Breakaway report it has an EV of 17.5 cents after acquisition (fully diluted) and revenue, using the current 3-month spot prices in Australian dollars, from my workings is nearly $100 million.

All this for $14 million. I think the market has missed this one.
Report: http://www.csdtin.com.au/wp-content...014-11-14 - CSD Breakaway Research Report.pdf