Mentalist123

I have been following AR1 since it was listed. AR1 is the third or fourth company in the last 15 years to try to make a go of Lady Annie Copper mine and it’s associated tenements. It is located in the middle of nowhere. Costs are enormous. The 50 klms or so haul road between Anthill and the plant location is a nightmare and the costs to transport the ore, let alone the cost to keep the upgrade chews up any possible profits. Would have bren cheaper putting in a conveyor. Anyway I think all a bit late. Trying to mine copper under 1% Cu at this price at a strip ratio of 5 tonne waste to 1 tonne ore. Then cart the ore, 50 klms and try to make a profit. What is the chance if that ? Zero. The mention of sulphides being a resource, which is copper in ore that cannot be leached at the current Lady Annie leach process plant. The processing of sulphide ore requires a completely different process plant called a flotation plant and grinding circuit. This will require an investment of at least $150million and a 3 years timeframe. I am only an observer and know the full history of this project. The prior owner Nathan Tinkler ( coal guy) had the brains to work out it was not going to work and “run Forrest run”. Quite frankly I looked up the history of the current MD and surprised with his experience believed he could make this historically cash burn disaster, could ever breathe. History determines the future in this mineral business.