Yes I know they have had a fund raising....but still scratching my head over the value, market has placed on 30,000 tons of high grade surface copper.....(about nett $16 million-post raising) ------------------------------------------ Most of that copper is JORC compliant..(check out some of the drills, at bottom of post) The Company prepared a project feasibility statement in January....(see copy below). They say toal revenues of $120m...in actual fact, since Jan its closer to double ie $240m. Refer spot copper price Kitco.
Absolute little dream of a stock. ________________________________________________________
8th Feb 2010 ASX release:
Key outcomes for the High Grade Copper Project include:-
Copper Production ~5,000tpa
Capex US$12.4M (pre-production US$2M)
Total Revenue US$120M
Cash Flow @NPV=0 US$57M *
Mining & Processing Opex US$51/t ore
FOB at Smelter Cost 86c/Lb Cu** Total Cash Cost US$1.7/Lb Cu***
* Before interest and taxes
** Excludes smelter deductions and royalties but includes freight
*** Includes all smelter deductions and royalties. excludes precious metal credits.
_______________________________________________
ARVA 17 38m at 7.49%Cu from 0m Incl. 14m at 18.99%Cu from 22m Incl. 4m at 50.6%Cu from 26m
ARVA 24 26m at 5.47%Cu from 18m Incl. 6m at 21.02%Cu from 32m Incl. 4m at 28.8%Cu from 32m
ARVA 49 20m at 5.12%Cu from 13m Incl. 4m at 21.53%Cu from 17m Incl. 2m at 34.1%Cu from 19m ________________________________________
Total Revenue US$120M
Cash Flow @NPV=0 US$57M *
Mining & Processing Opex US$51/t ore
FOB at Smelter Cost 86c/Lb Cu** Total Cash Cost US$1.7/Lb Cu***
* Before interest and taxes
** Excludes smelter deductions and royalties but includes freight
*** Includes all smelter deductions and royalties. excludes precious metal credits.
AVB Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
