Ann: Antas Mine Development Update, page-206

Kalenn your posts are some of the best posts I have ever seen on HC, if folk are so dumb they cannot see that the copper crash placed all copper in exactly the same position. If you like copper (All solvent ones, I like hot spice too ) be in copper ! Learn to deduct that macro and get your timing working IMO.

I actually don't need or want copper to do too much this year, I have said this before I know I think I will follow my own advice and not post so much, in fact much less.

I hope to complete my buys in AVB this year, I do not expect any SP fireworks perhaps only a bit of firming as Santa approaches.

I am thrilled to be holding what I am and happy to watch the construction progress, I will take a keen interest in the plant, its testing and later hope to see just how good that 500ktpa feeds the 800ktpa plant, I see both feed and plant exceeding expectations, in fact I don’t mind if they clear the pit in short time, it’s open below anyway. But just good above average cash flow is what I and some others will be looking for.

The production will settle down over the second half of 16 and we will see a nice sustainable background operation, it’s a run-of-the-mill small copper mine with good potential for greater cash flow, but never forget this is how you start to make something big.

Save some catastrophe AVB’s first cash flow positive mine will have been established in the Carajas next year. The latest analyst views are a clouded a bit by the current copper price, analysts cannot be too upbeat dealing with copper right now, seeing distressed situations day-in day-out take a toll, I have seen this before in other depressed commodity cycles it never stays.

I estimate on my take that AVB is 18 months behind what I originally expected, so shoot me who cares it's what the market gave us, some passed away . By year-end I will own my hoped for average goodly position in AVB and the risk to my holdings is minuscule, but it means much more than that for me.

The reason I hold AVB as my long term cu holding is that they have always been an exploration company with acquisition potential, this is why Appian, Greenstones, Blackrock, Glencore, Directors, Private group and a sticky top 20 own well over 85% + of AVB and have totally locked it up, if my estimations are anywhere close this it is remarkable and will manifest itself at some stage.

Antas Cash Flow Basecamp, PB, Exploration and Acquisitions is what this is about for me.

As always dyor.