well at commodity prices back on the 23/1 the NPV of the project was $200 million, which is more than double what the cost was to acquire the Lichkvaz Project and the rest of the IBR assets.
I must admit I was a little puzzled in the change of company direction in the space of a couple of months, but listening to the boardroom radio interview from the 3/3 it all makes sense they have obviously had some concrete interest in the Lichkvaz Project and thought to themselves they are already commited to drilling 45,000m if they increase the resource further they would be able to make a substantial profit selling it rather than developing it.
with the proceeds from the sale of the Lichkvaz Project TMR would be able to substantially upgrade production in Chile and bring some of these enormous copper deposits they are sitting on into production.
remember Chile is the real end game for TMR, they are about to reach production of 12,000 tonnes of copper per annum with discussions underway to up that to around 15-16,000 with a simple upgrade to the plant.
remember even companies such as ZFX/OXR have said they are looking for assets in South America(i'm not saying they are going to have a go at TMR), it just goes to show how valuable TMR's massive holdings in Chile really are.
TMR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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