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Ann: Walford Creek Resource Upgrade, page-6

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marfis

80 Posts.

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27/02/19

09:42

Post #: 37581883
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Originally posted by Vector: ↑

The volume traded today was around 825k - the average volume is around 500k so not large volumes.
Understantable that some people are impatient and frustrated that there was no movement at the station and perhaps there was also some who were taking a position in just prior to the resource statement who were hoping to make a quick trade and realized that this was not going to happen.

In absolute terms the increase in resource size was not that large however a major part of the drilling in 2018 was to upgrade the resource to M&I status & test out the continuity along strike which they have done.
These guys have a pretty sizable resource now and can get on with the feasibility study to get a mine built with the M&I resource (to update to reserve) while proving up 20km further extensions along strike east and west to highlight how large this deposit can be.

Probably also worth noting the table with the copper equivalent calculations - the price used for copper & cobalt is 6,614/mt and cobalt is $45,000/mt. It wasn’t that long ago cobalt was double this price and if we return to $80k/mt cobalt prices it adds another 0.5% Cu equivalent.

It’s just a matter of time before we get the next upswing in copper and cobalt and there are very limited options outside the DRC for a project like this.

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Hi Vector

Pity the Co price is currently "only" $32,000/mt. The disappointment is the lack of guidance on what the plan for 2019 really is. Pre-feas, drilling etc etc yada yada. AML has turned into a 2020-2021 story at best.
Good luck to all holders.

AML Price at posting: 27.0¢ Sentiment: Hold Disclosure: Not Held
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0 Great analysis

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