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Hi ReboundLess
Thanks for that, just had a look at the Scuddles/Golden Grove discovery, very interesting.
Also, nothing wrong with a bit of speculating, isn't that what share buying is all about?
I did exactly the same with EUA at between .5p and 1.5p and that seems to have turned out OK!
No harm in a little speculation as far as I'm concerned and I'm interested to read everyone's opinions. This usually friendly and informative board got me interested in CHF in the first place @ 6.55p and although late to buy in compared with some, I'm delighted to be here.
Hi again ReboundLess.
For some time and without much success, I’ve been trying to get my head around the upside valuation possibilities for CHF in the event of a decent discovery. In September you wrote:
‘The value prospect is the same now as it was last week. £6MM is 1/10th what the market cap will be if they find a 1Mt resource @ 2% Cu, and they expect larger, higher grade finds.’
Keeping this in the realms of reality if a 1Mt resource @ 2%CU gave CHF a market cap of £60 million, what would an exceptional (and highly unlikely I expect) Mavrovouni size discovery be worth; 16.5 Mt @ 4%Cu ? Could you confirm or otherwise the rather eye watering numbers that I am coming up with based on yours?
Many thanks.
Agrokipia 1 Mine
It operated from 1952-1971 as an open-cast mine from which about 333,000 tons or ore with an average concentration of 1% copper and 38% sulphur were extracted. Processing took place in the ore enrichment plant at Mitsero with the aim of producing copper and sulphur using the flotation method, while the end product was exported by ship from Karavostasi.
Agrokipia 2 Mine
It operated from 1958-1964 using underground methods and extracted some 74,000 tons of ore with an average concentration of 4% copper and 40% sulphur.
'Our AMT specialist geophysics team from Spain left site last week. They used high-tech probes to analyse natural electromagnetic pulses in the ground to identify mineralisation
The survey was extended and the data is currently being analysed. We expect to report results soon'