Simple comparison of Andash to Jervois.
Andash
19.2mill tonnes at 1.1g/t plus 0.4% Cu for 1.05% Cu equiv or 2.1g/t gold equiv.
Jervois
8.8mil tonnes at 1.3% Cu and 26.7g/t silver for 1.68%Cu equiv. or 3.35g/t gold equiv (plus as yet non jorc gold credits which will bring the Cu equiv grade to 1.8-2% IMO).
So clearly the grades are much better at Jervois than Andash, but there are roughly double the tonnes of ore at Andash.
Drilling suggests Andash is well defined but Jervois could easily double in size and would still be open.
Mineralization continues to TRIPLE the depth of the current resource at Jervois.
If Jervois doubles in size to 16mill tonnes then it will have a significantly higher in ground value because of the much higher grades.
Current jorc in ground value at Jervois is 1.3bill. Potential for 2.6bill or more but yet to be proven with in fill drilling at depth.
There is also good potential for new deposits along strike at Jervois with multiple ore bodies already defined.
Current in ground value at Andash is 1.67bill.
Not too much ground to be made up.
Jervois only needs to grow by 28% to reach the in ground value of Andash.
Andash currently has a NPV as defined by the FS of $352 mill (at 1600 gold 4.25 copper) or around 30c/share.
What's Jervois worth? 1-3c as currently priced by the market?
The above shows why I believe (as does management) Jervois could easily be more valuable than Andash.
Assumptions for equiv grades were gold 1500/oz gold, silver 41/oz and copper 8850/t.
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