One hole

A little thought exercise...

We know hole APBP 17-64 produced a hit of 18.9 metres @ 2.39% copper and 0.62 g/t Gold.
We know the depth, we don't know the width. However, for the purposes of the thought bubble, let's assume it is also 18.9 metres wide.

75 metre step out so:
18.9 x 18.9 x 75 = 27,035 cubic metres of ore or 240,967 tonnes of earth.

This ore contains 5759 tonnes of copper and 4800 ounces of Gold.

Using Antas North recovery rates (we know the ore is very similar) and today's market prices the gross value of that ore is approximately;
Copper 35,193,249
Gold $4,983,987

Hence, US$40 million approx possibly added to cashflow of Pedra Branca with that one hole. Net profit? Maybe US$15 million. Of course if the ore body is wider or narrower those numbers change.

However, that one step out hole paid for the years exploration budget and probably bought a large chunk of Centro as well. Yes, it's still in the ground but one thing AVB management have proven is that they are good at getting ore out of the ground and into the bank account.

PS Based on an AISC of US$1.75 and current values AVB are earning close to A$2c per share

PPS and they are steeping out again...


And then there is that second hole at the Antas North EM target, the Luis Azevedo prospect....but that's another story.