I am a holder and have considered this stock to be undervalued
Let me put things in perspective
Indophil (IRN) has a jorc at 2.49 billion tonnes 0f copper at 0.5 % copper at 0.2 cut off grade Poor levels but massive deposit It ahs 490 million shares on offer and is about 40 c Which equates to 1.25 million tonnes of copper Current value of copper = 12.7 million - input costs This equates to $48 minus input costs which because it was a low grade mine will have its issues Ask meribela resources about low grade mines High input costs
So avb has 17 milion tonnes at 1.17 % copper which is double indophil grade copper This equates to 198900 tonnes of copper At current value of coppper = 1.7 billion - input costs Big big difference woundn't you say Still with an increasing jorc anything is possible Based on those figures it should be 1.90 stock minus input costs which will be considerably lower due to closer proximity to the surface including potiental upgrade if they find that south joins north (east joins west haha) Definately undervalued
But still both companies have to dig out lots to get bugger all copper
AVB Price at posting:
9.8¢ Sentiment: Buy Disclosure: Held