RE: Piggy bank raid10 Nov 2021 13:11
Mankayan has a copper-gold resource estimate completed by Snowden Mining Industry Pty Limited (“Snowden”) prepared in 2009 under JORC (2004) which defined an indicated resource of 1.1 million tonnes of contained copper and 3.7 million ounces of contained gold and an inferred resource of 0.2 million tonnes of contained copper and 0.6 million ounces of contained gold.
It was valued when copper was $3 and gold at $1,250!
Now copper is $4.370 per lb thats a 45.66% increase!
Gold is now $1,829.76 per oz that is a 46.3808% increase!
The NPV on the old figures was 1,589m !!!!! that is ONE POINT 6 BILLION!!!!! $2 billion on just a $0.5 copper increase alone to $3.5! so just on the new copper increase the project is $3 billion without factoring in the gold.
I will come back and do the new math at some point but I expect we are looking at around a $4.5 billion revenue now before tax and royalties. Outstanding for such a micro like us.