MG14 and Windabout contain identified JORC resources of 209,680 tonnes of copper with significant cobalt and silver credits. Conceptual potential exists for a Life of Mine of up to 17 years that outputs 9,000t of copper per year plus cobalt and silver credits.
Conceptual studies indicate that the project has potential to generate annualised copper revenues of ~$76 million plus cobalt and silver credits.
Peer group analysis indicates that Gunson’s 49% interest in the Terrace Joint Venture after the farm-in phase will carry a conceptual valuation of 14 cents per share on commencement of mining operations.
Similar numbers to your estimates which gives some confirmation of your points.
GUN Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
