the next $12m is almost here.., page-129

Based on latest closing prices:

Volume of copper 12000.00
Volume of Gold 7798.00
Cu price per lb. 3.14
Au price per oz. 1295.00
Interest charges 10%? -7000000.00
costs excludes admin etc -25000000.00
shares on issue 1114000000.00
cash receipts 93145130.00
Earnings 61145130.00
earnings per share US$ $0.0549


So Simon that 40c target isn't out of the question for August 2014, would only need a PE of 8 which should be easy with PB, Sao Jorge, Serraria, Nova Esperance, etc to come but I think it will take a little longer (3 to 6 months) so you'll be shouting. I imagine they could be in production within 12 months but they'll want to ramp up the production flow steadily to knock out any kinks.

AVB management have stated they are targeting 50,000 tonnes all up mid term. Rough as, but as a thought experiment, using current cost basis,

Volume of copper 50000.00
Volume of Gold 7798.00
Cu price per lb. 3.14
Au price per oz. 1295.00
Interest charges 10%? -7000000.00
costs excludes admin etc -25000000.00
shares on issue 1114000000.00
cash receipts 356126410.00
Earnings 324126410.00
earnings per share US$ $0.2910


So a PE of 12 by then? $3.50? 3 years? Makes $1 look VERY safe.

I'm really looking forward to this years AGM. Finance in the bag, pictures of the plant and site prep rather than cores and a lot of back slapping!

PS They don't sell Fat Yak in Brazil but I've been assured the beer is good:) Have you been practising your Portuguese? "outro por favor"