AVM 4.35% 2.4¢ advance metals limited

sedar reports

  1. 10,463 Posts.
    lightbulb Created with Sketch. 2073
    AVM lodged an Annual Information form on sedar.com late last week. The important 'new' info in this form that I've found is-
    1) Kulumaziba tailings project will now produce 16,500 to 17,000 tonnes of copper per annum(Pg6) - previously we were told 25,000 tonnes per annum.
    2) There are now 711 employees at Dikulushi(pg 7) - previously 600.
    3) That they're now going to use the old HMS Dikulushi plant(that has a capacity of 250,000 to 300,000 tonnes of ore per annum) at the Kulumaziba tailings project(Pg12) - previously we were told they were building a new HMS plant with a capacity of 1 million tonnes per annum.
    4) That Dikulushi Stage11 plant recoveries will increase to 85%(pg 18) - previously we were told 92%.And that the concentrate grades will only increase to 49% copper & 1400g/t silver whereas we were told previously that it would be 56% copper & 1700g/t silver.
    5) That the inferred resource at the Kulumaziba tailings project is 1.5mil tonnes at 6.8% copper in the first 7.5klms(pg 26) - previously 4 to 5% copper.

    There is also an accompanying 100pg+ Technical Report from Finore consultants on the Kumuluziba tailings project with some interesting photos - it says on Pg17 that this project is estimated to produce 8.93% copper & 0.15% cobalt from a throughput of 300,620 toones of ore in the first year.

    Obviously going to save on the CapEx for the tailings project and should have it into production earlier - maybe August this year(my guess).
    Disappointing about the lower plant recoveries and concentrate grades at Dikulushi but at least it'll be accessing full grade ore at a continuous rate sometime this month & maybe they can improve the plant performance back to the previous promised rates.
 
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