"in my opinion, all 4 of these undeveloped copper projects with...

First 30 Last

Guerilla

2,644 Posts.

962

15/03/21

10:30

Post #: 51765812

Originally posted by Clark888 ↑

With a thinning copper project pipeline in Australia, in my opinion, all 4 of these undeveloped copper projects with JORC Ore Reserves will get up (even Hillside).

View attachment 2941166

The following table articulates why Havilah has the best risk-reward equation across the undeveloped Australian copper peer comparison for the ASX listed mining junior pack: Kalkaroo is number 1 or 2 in most categories (particularly where it counts: NPV and IRR).

Column 1 Column 2 Column 3 Column 4 Column 5

1

2

3

4 PROJECT: Kalkaroo Hillside Sulphur Springs Jervois

5 Project funding in place? No No No No

6 Primary commodity Copper-gold Copper-gold Copper-zinc Copper

7 ASX Company HAV RXM VXR KGL

8 Copper JORC Ore Reserve: Proved 430Kt (90%) 260Kt (51%)

9 Copper JORC Ore Reserve: Probable 44Kt (10%) 249Kt (49%) 119Kt (100%) 226Kt (100%)

10 NPV (pre-tax) A$M $903 $751 $472 $177

11 IRR (pre-tax) 26% # N/A 51% 23.0%

12 IRR (post-tax) 21% # 16.2% N/A N/A

13 Discount rate 7.5% (2019) 5% (2020) 8% (2018) 8% (2020)

14 A$/US$ rate 0.75 0.70 0.72 0.71

15 Copper price US$3.10/lb US$3.00/lb US$2.86/lb US$3.08/lb

16 Gold price US$1,500/oz US$1,550/oz N/A US$1,850/oz

17 Zinc price N/A N/A US$2,650/tonne N/A

18 Silver price N/A N/A N/A US$22.80/oz

19 Waste: Ore ratio 3.5:1 6.7:1 (after pre-strip) 8.7:1 4.9:1

20 Life of mine minimum 13 years initial 12 years initial 10.3 years initial 7.5 years

21 Location from port 350 km 150 km 144 km 1,700 km

22

23 Any other copper project? Mutooroo No Whims Creek, WA No

24 Any other mineral projects? Grants Basin (Fe), South Australia Hog Ranch (Gold), USA No No

# IRR is based on original Kalkaroo 18 June 2019 PFS long-term copper price of US$2.89/lb and gold price US$1,200/oz.

Three of these copper juniors in Australia are still very much undervalued compared to their copper project’s NPV.

Column 1 Column 2 Column 3

1

2

3

4 % of NPV (pre-tax) Market cap A$M ##

5 Havilah 7% $63

6 Rex Minerals 9% $66

7 Venturex 9% $41

8 KGL 87% $154

## As of last Friday.

The irony, Jervois project has the lowest NPV but KGL Resources Limited has the highest market capitalisation.

Copper futures (Mar'21) currently US$4.12/lb. That is definitely not factored into the current share price for the likes of HAV, VXR or RXM.

Cheers

These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.

Expand

"in my opinion, all 4 of these undeveloped copper projects with JORC Ore Reserves will get up"

No brainer.

DYOR

Upvote

Top Stories

MEM

Many are concerned about global falling birthrates. This diverse stock has solutions

RCE

Recce locks in $30M to boost commercialisation across ASEAN region

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

ASX Market Close: Bourse spins in circles as Israel-Iran conflict weighs | June 17, 2025

VBX Ltd jumps 15% on ASX debut as newest Oz bauxite player

First 30 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last $2.71		Change 0.000(0.00%)		Mkt cap ! n/a

Open	High	Low
$2.71	$0.00	$0.00

"in my opinion, all 4 of these undeveloped copper projects with...

Many are concerned about global falling birthrates. This diverse stock has solutions

Recce locks in $30M to boost commercialisation across ASEAN region

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

ASX Market Close: Bourse spins in circles as Israel-Iran conflict weighs | June 17, 2025

VBX Ltd jumps 15% on ASX debut as newest Oz bauxite player

Featured News

Featured News

	Column 1	Column 2	Column 3	Column 4	Column 5
1
2
3
4	PROJECT:	Kalkaroo	Hillside	Sulphur Springs	Jervois
5	Project funding in place?	No	No	No	No
6	Primary commodity	Copper-gold	Copper-gold	Copper-zinc	Copper
7	ASX Company	HAV	RXM	VXR	KGL
8	Copper JORC Ore Reserve: Proved	430Kt (90%)	260Kt (51%)
9	Copper JORC Ore Reserve: Probable	44Kt (10%)	249Kt (49%)	119Kt (100%)	226Kt (100%)
10	NPV (pre-tax) A$M	$903	$751	$472	$177
11	IRR (pre-tax)	26% #	N/A	51%	23.0%
12	IRR (post-tax)	21% #	16.2%	N/A	N/A
13	Discount rate	7.5% (2019)	5% (2020)	8% (2018)	8% (2020)
14	A$/US$ rate	0.75	0.70	0.72	0.71
15	Copper price	US$3.10/lb	US$3.00/lb	US$2.86/lb	US$3.08/lb
16	Gold price	US$1,500/oz	US$1,550/oz	N/A	US$1,850/oz
17	Zinc price	N/A	N/A	US$2,650/tonne	N/A
18	Silver price	N/A	N/A	N/A	US$22.80/oz
19	Waste: Ore ratio	3.5:1	6.7:1 (after pre-strip)	8.7:1	4.9:1
20	Life of mine	minimum 13 years	initial 12 years	initial 10.3 years	initial 7.5 years
21	Location from port	350 km	150 km	144 km	1,700 km
22
23	Any other copper project?	Mutooroo	No	Whims Creek, WA	No
24	Any other mineral projects?	Grants Basin (Fe), South Australia	Hog Ranch (Gold), USA	No	No

	Column 1	Column 2	Column 3
1
2
3
4		% of NPV (pre-tax)	Market cap A$M ##
5	Havilah	7%	$63
6	Rex Minerals	9%	$66
7	Venturex	9%	$41
8	KGL	87%	$154

"in my opinion, all 4 of these undeveloped copper projects with...

Top Stories

Many are concerned about global falling birthrates. This diverse stock has solutions

Recce locks in $30M to boost commercialisation across ASEAN region

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

ASX Market Close: Bourse spins in circles as Israel-Iran conflict weighs | June 17, 2025

VBX Ltd jumps 15% on ASX debut as newest Oz bauxite player

Featured News

Featured News