Just thought I'd bring up some of the differences between AR1 & CYM. In no way is this an attack on their fine operation. Just pointing out some differences and how undervalued CYM is right now.
this off AR1's recent presentation.
Note: Copper price used is AUD$14,000t Cu
Targeting 10,000t Cu per annum copper metal plate
Infrastructure valued at AUD$160m
60Mt @ 0.7% Cu
420,000 contained Cu including
220,000 contained sulphide tonnes Cu
455.8M Shares on Market
Todays share closing Price 60.5c
Todays Market Cap 250.8m - 2/06/22
CYM had Nifty restart study produced in March 2022
Revolution produced this valuation of CYM based on the Restart Study
CYM study used USD for figures and gave 2 possible Copper price valuations
US$9,000 / t Cu
US$10,000 / t Cu
Infrastructure of 2.8Mtpa Cu concentrator, 25Kt SX-EW, Airstrip and camp etc...
Targeting 25,000 t per annum Copper metal plate.
Not mentioning other Cu/Co deposits at various locations.
Further MRE updates, currently waiting on drill and lab results to Nifty east sector
AR1 & CYM both targeting LME grade plate earning a premium to the copper price
So here is a comparison of actual prices used in BFS/ Restart Study and then todays copper price and currency value in the far right column..
Just a basic calculation on expected production values. Does not take into account LME grade pricing
AR1 used AUD$14,000/t or closer to US71.6c So their May numbers worked in their favour compared to our March numbers from a viewers perspective.
But look at the difference when you plug AR1 numbers into USD and use CYM FX rate.
Currently AR1 income of A$14,000/t on track only marginally off.
CYM stated AUD $307m pre tax cashflow so similar to these basic numbers and Austral stated A$140m revenue per annum.
Restart Study
732,000 tonnes of copper
564,819,214 Shares on Market
CYM earning will be 2.5 times AR1 and yet we only get a 60c value??? This valuation is extremely conservative in comparison.
CYM should be closer to 2.5 X AR1 MC. OK we have 110m extra shares so 2.5X would be too much. So lets say 2X
But WAIT.
MRE Update had and extra 28.4% extra copper taking us up to 940,200t contained copper and further resources expanding will take this 2.5X
And we are still waiting on Nifty East MRE including oxide material.
Could easily see CYM trading around $1.50 next year if copper is around $10,000/t
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- Ann: 28.4% increased Nifty Copper MRE to 940,200t copper metal
Ann: 28.4% increased Nifty Copper MRE to 940,200t copper metal, page-76
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