To be fair to Euroz the analyst states that their 'current value' for AVM is $17.15 , using US$1.20/lb Cu price.
They go on to emphasise how sensitive AVM's value is to the spot price, being an unhedged producer, and that is why they can see such upside.
I also suggest that the wee bits of Silver they produce will add value if the precious metals market continues on.
Cheers
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