The Cons for VAR
- JORC estimates are exactly that... an estimate...
- They will need a raise with only A$1.3M remaining
The Pros for VAR;
- EV only A$2.7M for a mining lease an extensively mined mine with limited infrastructure
- Zinc LME stocks are low and new supply is not coming into the market
- Brownfield is good
I think a reasonable comparison is to AZI (ASX), which has slightly higher grade but lower tonnage compared to the VAR estimate... AZI had a takeover offer first, then a A$103M funding deal to get their brownfield site into production, funding supported by Appian... AZI now have a A$30M market cap and after draw down of all funding will hold a 35% interest in the mine... So the A$103M funding represents a $150M valuation for the mine of similar size and similar grade to the VAR estimate....
They key is VAR getting the $$$ to drill it out and get a JORC compliant resource.
The Cons for VAR- JORC estimates are exactly that... an...
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Last
0.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.161M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1846111 | 0.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.9¢ | 1495204 | 3 |
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| Last trade - 16.12pm 04/11/2024 (20 minute delay) ? |
| VAR (ASX) Chart |
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