AUQ is set to be a direct beneficiary of sky-high copper prices, with construction of its 51% owned ‘Washhi Majaza’ copper-gold project in Oman due for completion in November.A revised DFS envisaged a smallish open pit operation producing 35,000tpa concentrate a year for ~80,000t copper and 21,800oz gold over 10 years. It will cost about US$60m to build, the company says. These metrics are now enhanced by higher current copper prices.At $US7,000/t copper earnings before tax (EBITBA) was $US208m. At a $US9,500/t copper price, project EBITDA increases to $US370m, AUQ says. The current cash price for copper on the London Metals Exchange is $US9,965/t. GLTAH
AUQ Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
