I sincerely hope AIC stay away from the likes of TNC and CNB, let alone RNX and 29M....and Moronan....
AIC need a bigger plant, not more ore.
Hopefully the ENV DFS now due in the next few months shows they have space at their mill. It's probably only 90 minutes to EHM ..so 3 hours round trip. I think this trip could be done for $450 with $50/hr to drive, fuel and truck, call it $500 per trip.
80t at 2% CuEq, each road train would contain gross value of over $24,000 at current prices. So ore haulage to EVN's EHM equates to ~2.1%, or say ~14c/lb
15000 eighty ton lodes would get 1.2 Mt pa and cost $7.5 million, call it $10 million in haulage. And there would probably be relatively cheaper treatment cost at EHM mill, assuming it can process AIC ore. So why spend ~seven years' worth of haulage costs to EHM (using debt) to expand the plant .
I think EVN could offer ~$330 million for A1M and make back double their money after ~7 or 8 years, and then still have another 5 years plus or ore and some good exploration ground to boot. I for one would take and all script TO for EVN valuing us at $350 million
A1M Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
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