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78.0¢ avz minerals limited

Ann: AVZ to raise $15 million to fund further work at Manono, page-423

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GTMelb

34 Posts.

27/02/18

14:30

Post #: 31382182
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Originally posted by scrubroad ↑

AVZ is running five drill rigs at its Manono project, which is costing it around $2 million a month.
Mr Eckhof has described Manono as hosting one of the “longest pegmatite intercepts ever reported”. Pegmatites are rocks formed from lava or magma that are the primary source of lithium.
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back of the envelope calculation
$2 million a month divide by 5 - $400000 a rig a month

$400000 divide by 308 hours (as that many hours in a month )
= $324 per hour if working 24 hours a day 7 days a week

No reason they will not be working 24 hours a day
as there getting paid by the meter
Not knowing meter age rate ? I worked on hourly rate which is feasible

Any way this is going to supply a continuous supply of information
core pics And lab results in the coming months

Plus we are funded for the whole 40000 meters now Today = RFN
R - Right
F - F#c$ing
N - Now

Not tomorrow not in a weeks time a months time - RFN

So sit back get the pop corn ready and wait for more of this

380 meters last time and they never hit bedrock

Anyone not holding AVZ ?

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I think the hourly rate is a tad too simplistic, what about hire of the rigs and lab costs?

AVZ Price at posting: 25.8¢ Sentiment: Hold Disclosure: Held
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