1 million tonne copper companies, page-15

This thread prompted me to go back and look at the Sep 27 ann which I believe is up to date with regards to the resource.

I'll ignore the gold because the grades are rubbish. I ignore anything less than 1g/t. I know many will disagree, and that's fine, but that's the metric I use.

So the resource is 661000 tonnes. That means it needs to increase by 50% to reach 1Mt. That's a lot of copper still to find. If they manage it by end 2013 that'll be an achievement.

At the moment all of PB is inferred.

AN is doing better with 2/3 classified as indicated. And the grades are OK too (1.87%, not superb but not to be sneezed at). But that's 122000t.

AS ended up as the lonely orphan with only 85000oz at 0.83%. And I thought- correct me if I'm wrong here people- that there wasn't really any plan to mine AS, all the focus with stage 1 was at AN. So if they're not going to use it, I'm going to ignore it.

Given that AN forms Stage 1 of the mining plan I'd currently place more value on expanding the size of that resource.

So I'm going to be provocative- and unfair- and suggest that AVB has only 10% of its 1Mt target. But that's clearly baiting and you would do well to ignore it.