It is a bit disappointing. But I put this one on watchlist for two reasons:
1. It is a copper producer already. It has the facility, process and experience to produce copper concentrate. Any further production increase will only incur minimum capex. I noted that the company estimate capex per annual tone of copper is about $2500/ton, which is very low, and I doubt about it can be that low, but it is OK.
2. A lottery ticket to find huge ore body below the current copper lode. All they need to do is to run some geophysical test, and define some deep drill target.
3. The gold asset alone could justify its share price.
4. Small market cap.
RBM
redbank mines limited
