AVB 0.00% 16.5¢ avanco resources limited

quarterly is out, page-2

  1. 367 Posts.
    Looks good

    HIGHLIGHTS
    STAGE I – ANTAS NORTH
     Brazil’s regulatory authorities have approved the Stage I Mineral
    Resources including the Antas North Deposit1
    . This timely decision
    paves the way to progress to a full Mining License. The next
    regulatory step is submission of a Mining Study2
    and this is nearing
    completion.
     The Company has received its first Indicative Term Sheets for debt
    financing with further submissions expected.
     The Stage I Feasibility Study delivered very robust economic
    outcomes with key indicators including:3
    Copper production: ~12,000tpa
    Gold production: ~7,000ozpa
    Start-up capital: $50M
    Direct Cash costs: 75c/Lb Cu4
    NPV7%: $224M
    IRR: 94%
    Payback: 9 months
    Annual cash flow: ~$55M EBITA5
    STAGE II – PEDRA BRANCA
     During the quarter a 24% growth6
    in JORC Reported Mineral
    Resources was achieved at the Stage II Copper Project.
     Stage II continues to grow the more it is drilled, with another
    significant resource upgrade expected next quarter.
    REGIONAL EXPLORATION
     The Company’s maiden regional drill programme consisted of 3 holes
    at the Sao Jorge Prospect. All intersected multiple zones of coppergold mineralisation throughout the entire length of each hole.
     Scout drilling has moved to the Serraria Prospect while further work
    is being planned at Sao Jorge.
    RESOURCE INVENTORY
     JORC Reported Mineral Resources for Stage I & II now stands at:
    60.64Mt at 1.24% Copper, 0.33g/t Gold for 755,000 tonnes
    of contained Copper and 638,000oz of Gold7,8
 
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