Further, the difficulty that potential investors have with polymetalic plays like this is understanding the optionality and versatiltity of the mine plan. Multiple mining fronts and sequencing from different style deposits of varying grade with a somewhat unique processing plant gives them the capacity to diversify ore feed to make hay when the sun shines should a particular metal be hot on price. This is not a long term viable strategy but does mean they can inventory manage and be a bit more selective than something pure play.
Naturally Federation being skewed more to Zinc is going to lift the overall profile but the rest of the plant should perform better with economies of scale once the mill is full. Soon as we achieve first stope the focus becomes ramp up and how quick can we get to the full run rate.
Personally i think we should be drilling out Federation far harder to show the market there is 12+ years here. Great assay recently to suggest major extensions but I really think they need to up the exploration news flow.
AMI Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
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