AA' s dilemma21 Feb 2021 09:58
AA, offered EA when copper prices were $2.7lb in July 2020 ,currently $4 lb and increasing in less than a year! If they had offered a EA a year earlier, at $2.1lb ish, they would have got a great deal no doubt. However that's to our advantage now, Copper rising and we got plenty of quality and quantity. Fwiji and Cheyeza East and West is Tier1 if drilled out properly. Thats a large acreage in those deposits, and we have 800km square license areas. Fwiji is 40km squared and is enough as a standalone project for any junior. I'm flabbergasted that AA haven't made an offer, and I'm not talking $250m!David Wood must have been licking his lips when he looked at the data on Fwiji. Remember he's the top Geo on the African copper belt. The man who found the Sentinel Mine for FQM. The missing copper for the Sentinel Mine is under Fwiji, and he knows it. And were talking grades of up to 8% sulphides and lesser grades of oxides. Easy $250m for this asset alone, and Cheyeza East and West makes that $500m. A buyout is what I think they'll do, then a Jv with a nearby mine? Still one can speculate, Copper will never drop below $3lb,not with demand outstripping supply for decades.