Good morning PNA
I need to hone this up a bit but even with the Zn price significantly down, the 'in ground value' of AAR Koongie Park alone is AUD$2,305,950,216. Allowing for only 10% of this being recoverable value it equates to 41c per share.
This has come about because the value of Cu, Pb and Ag have all gone up and the Cu resource estimate has increased 30%. I have lowered the recoverable Zn in this calc as well to just 4% to provide some balance, I believe it will be a lot higher especially with Atlantis extension.
The Zn price is forecast to go back up and even the current price is double what it was when the KP project was regarded as unprofitable to proceed. Keep in mind the Chinese will require loads of Zn and Cu for the steel processing. Car makers worldwide have woken up finally and are now progressively zinc coating car panels. And my old chestnut the "Zinc Gap"......Zn WILL go back up.
AAR is going to be very well positioned indeed. 41c p/share for KP alone! What is AAR going to be worth when Mandilla fires up again and VRD is added in?
Have a great day people, our day is nearing.
Kongie Park
Zn $0.9979 lb $654,717,830
Cu $3.7000 lb $946,745,995
Pb $1.1500 lb $150,901,995
Ag $14.00 oz $218,531,801
USD$ $1,970,897,621
AUD$ $2,305,950,216
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