Based on the latest Podcast & the Bell Potter Unearthed 2024...

Based on the latest Podcast & the Bell Potter Unearthed 2024 presentation, Dave has indicated the next few months will see a significant Storm Copper centric news flow release occurring.

• Storm exploration camp is on the verge of opening-up from mid-March,
• Exploration & Resource growth Drilling activities commencing soon for the 2024 season to further define Cyclone North, Chinook West, Corona, Cirrus, Thunder, Lightning Ridge and The Gap,
• Exploration will focus on Geophysics (EM surveys), 2x RC rigs (1x resource expansion & other on Storm region exploration) & 1x Diamond drilling rig to explore deeper and along strike within the known Graben fault network, plus further afield geophysics & drilling at Blizzard, Tornado and Tempest prospects,
• Project Development
  • Update on Metallurgical Testwork – in terms of mechanical beneficiation work on the various Storm Ores for optimizing the configuration of the Ore Sorters, DMS or Jig systems being evaluated,
    • Targeting a CAPEX $25 million (max) operation for Storm, (17minute), https://www.americanwestmetals.com/site/news/videos
    • 7-10 year mine life for existing orebody of 17.5 Mt @ 1.2% Cu & 3.4 g/t Ag (for 205 Kt of copper & 1.9 Moz of silver)
    • Therefore, they are anticipated a baseline processing facility capacity of 1.8 to 2.5 Mtpa treatment rate. Let’s say a 2.0 Mtpa processing facility as a starting point.
    • At 90% copper recovery, this would generate 24,000 tonnes of Copper Metal per year, or AUD$300 million revenue per year.
    • I had previous guessimated after mining, processing, shipment and smelting charges, AW1 could possibly achieve a profit margin of AUD$87 per tonne of ore processed. That equates to $AUD$174 million profit (re Post #: 72223207, 3 ^rd Feb 2024) when treating at 2.0 Mtpa rates.
  • Mining related activities – official Storm economic study (for a low cost, high margin mining & processing development path), environmental monitoring, community Laison & permitting.

AW1 is slowly evolving into a unicorn business with the likelihood of becoming a billion-dollar copper business. Finally, the resource is expected to grow by at least 100% to 150% after this exploration season, so all my estimates are potentially under-estimating the true value of the project.