The last time I priced the metals and tonnages/ounces in Federation the mine was worth around the $2.5 billion and metal prices esp. copper and gold have increased significantly since then. For Panta, last quarter at Federation, mine development exceeded 600m so presumably we will get a report that is similar or better. Like LOC I thought the drill results were a far cry from exceptional. Federation results, especially across the fault are eagerly awaited. From memory they are looking for continuation of a rich interval that may well have been displaced. Hopefully with the great metal prices the quarterly will report we've paid for all capital development out of cashflow, and managed to increase cash at hand above the previous $103 million. We certainly have very favourable prices for gold, silver and copper.
AMI Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
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