copper price forming nicely!!, page-5

Not quite sure of exact levels but this quarter at current copper prices is going to be quite a cash surplus even at lower production levels. They have quite a bit of cash in the bank at the end of last quarter and i think are somewhat undervalued at current earnings. Fully diluted I think 90 million (10 cents per share) for a company that is now most likely returning $45 - $50 million in free cash flow (annualised assuming $2.70 lb @ US .77 exchange rate and 26,000 tpa production with AISC's of $2.6 lb AU).

Upside is also strong with Murrawombie ramping up and further gains through expected foreign exchange rates. Also copper is forecast to reach US$7000 tonne in the near future so plenty of scope.

All the best to those who hold AIS and lets hope today is a sign of things to come!!!