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I listened to the audio. Production starting in 2013.. Still a fair while away??
STM - Sunstone Metals
- Thread starter Damuzzdu
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In comparison too ???
Most exploration companies at this value / market cap will be lucky if they ever get into production let alone by 2013 .. next to come increase to resource.. I wouldnt be surprised to if LKAB have a go for them or take a stake.. still a bit small for the instos to jump on but I think it will all start coming together very soon .. fingers crossed the momentum stays through next week and people dont dump their entitlements.. then again if they do I might get some cheaper shares..
Most exploration companies at this value / market cap will be lucky if they ever get into production let alone by 2013 .. next to come increase to resource.. I wouldnt be surprised to if LKAB have a go for them or take a stake.. still a bit small for the instos to jump on but I think it will all start coming together very soon .. fingers crossed the momentum stays through next week and people dont dump their entitlements.. then again if they do I might get some cheaper shares..
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Drilling update and corporate presentation announced today.. Corporate presentation worth a look for those interested... I believe they may have been roadshowing this to brokers and bankers last few weeks.. Expect a good flow of news and announcement here is with drilling updates, jorc etc etc and cash to spend now in hand..
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Adobee i might as well add some info and see what you think about their resource and potential. the chart:
It seems to me that the chart is showing a few resistance levels, with a rise in overall volume jan and feb, but 0.29 is the level that needs to taken before this will get exciting. it may be that because it has ranged over the past 2 years there will be a bit of selling to be done before it can move strongly. I realize that today it is showing good strength with 10%.
Also a bit of selling has just been conducted; about 3% of total issue:
and further, an excerpt from their latest presentation, feb 2011.
It seems to me that the chart is showing a few resistance levels, with a rise in overall volume jan and feb, but 0.29 is the level that needs to taken before this will get exciting. it may be that because it has ranged over the past 2 years there will be a bit of selling to be done before it can move strongly. I realize that today it is showing good strength with 10%.
Also a bit of selling has just been conducted; about 3% of total issue:
and further, an excerpt from their latest presentation, feb 2011.
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http://www.theage.com.au/business/avalons-arctic-project-like-mt-isa-in-the-snow-20110227-1b9xs.html
The Age
Garimpeiro 28th Feb 2011
"All that goes some way to explaining why the local market has yet to get behind plans by Avalon Minerals (ASX: AVI) to become a copper/magnetite producer by the end of 2012. Having said that, the location of its Viscaria project, north of the Arctic Circle and next to Kiruna in northern Sweden, could also be testing the interest of local punters.
But just think ''Mount Isa in the snow'' when thinking of Kiruna, population about 20,000 and a producer of 30 million tonnes annually of iron concentrates from LKAB's operations, which have an underground history stretching back more than 100 years.
Avalon's Viscaria was discovered in the 1970s, four kilometres from the iron ore operations and was a copper producer for 15 years until 1997.
Avalon picked up the project from former US copper heavyweight Phelps Dodge before copper prices took off.
And now that iron ore has taken off, it has come up with a neat copper/magnetite (grading 30 per cent iron before upgrading) development concept.
There is some work to do on confirming tonnage potential at Viscaria beyond the known copper resource (518,000 tonnes of contained metal) but early planning is indicating the potential for a $US160 million development with a mine life of more than 10 years that would produce close to 16,000 tonnes of contained copper annually, along with 735,000 tonnes of magnetite.
Assume a copper price of $US2.50 a pound (currently $US4.43 a pound) and magnetite of $US96 a tonne (currently more than $US200 a tonne) and the development would throw off heaps of cash, enough to pay back the capital cost in under three years.
View it as a copper mine and add in the magnetite credits, and you are talking about copper cash costs of a little more than US60 a pound.
Avalon last traded at 23.5 a share, valuing the company at $50 million or $41 million at the enterprise level after taking into account its $9 million in cash.
On the copper resource at Viscaria alone, Avalon has the lowest enterprise value per tonne of contained copper ratio of all of ASX-listed copper juniors. To turn that around, the company will need to hit its targets this year.
As detailed by the company in ASX releases, the first of them is to secure supply deals for the copper and magnetite in the June quarter. We all know where the copper concentrates used to go when Viscaria was last in production, so there are no prizes for guessing who the customer could be on that.
As for the magnetite, the world's biggest underground iron ore operation is next door.
Once the offtake deals are done, the next target is completion of the definitive feasibility study in the September quarter and, all going well, project financing in the December quarter and construction completion in the December quarter of 2012."
The Age
Garimpeiro 28th Feb 2011
"All that goes some way to explaining why the local market has yet to get behind plans by Avalon Minerals (ASX: AVI) to become a copper/magnetite producer by the end of 2012. Having said that, the location of its Viscaria project, north of the Arctic Circle and next to Kiruna in northern Sweden, could also be testing the interest of local punters.
But just think ''Mount Isa in the snow'' when thinking of Kiruna, population about 20,000 and a producer of 30 million tonnes annually of iron concentrates from LKAB's operations, which have an underground history stretching back more than 100 years.
Avalon's Viscaria was discovered in the 1970s, four kilometres from the iron ore operations and was a copper producer for 15 years until 1997.
Avalon picked up the project from former US copper heavyweight Phelps Dodge before copper prices took off.
And now that iron ore has taken off, it has come up with a neat copper/magnetite (grading 30 per cent iron before upgrading) development concept.
There is some work to do on confirming tonnage potential at Viscaria beyond the known copper resource (518,000 tonnes of contained metal) but early planning is indicating the potential for a $US160 million development with a mine life of more than 10 years that would produce close to 16,000 tonnes of contained copper annually, along with 735,000 tonnes of magnetite.
Assume a copper price of $US2.50 a pound (currently $US4.43 a pound) and magnetite of $US96 a tonne (currently more than $US200 a tonne) and the development would throw off heaps of cash, enough to pay back the capital cost in under three years.
View it as a copper mine and add in the magnetite credits, and you are talking about copper cash costs of a little more than US60 a pound.
Avalon last traded at 23.5 a share, valuing the company at $50 million or $41 million at the enterprise level after taking into account its $9 million in cash.
On the copper resource at Viscaria alone, Avalon has the lowest enterprise value per tonne of contained copper ratio of all of ASX-listed copper juniors. To turn that around, the company will need to hit its targets this year.
As detailed by the company in ASX releases, the first of them is to secure supply deals for the copper and magnetite in the June quarter. We all know where the copper concentrates used to go when Viscaria was last in production, so there are no prizes for guessing who the customer could be on that.
As for the magnetite, the world's biggest underground iron ore operation is next door.
Once the offtake deals are done, the next target is completion of the definitive feasibility study in the September quarter and, all going well, project financing in the December quarter and construction completion in the December quarter of 2012."
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Can anyone tell me when the 18c capital raising shares were or are going to be issued? cant see it in the announcements. I don't hold but am watching closely
skc
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Already issued on 23 Feb.
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High Grade Copper Announced
International minerals company Avalon Minerals Ltd (ASX: AVI; “Avalon” or “the Company”) is pleased to announce that on-going exploration and resource development drilling at its 100%-owned Viscaria Copper-Iron Project in Northern Sweden has returned a series of outstanding results from the D Zone.
The drilling program is designed to upgrade the current mineral resource at D Zone of 9.0Mt at 0.6% Cu and 27% Fe to the Measured and Indicated category.
Recent drilling within the current resource envelope has returned wider and higher grade copper intersections than predicted by the September 2010 resource model, with best results including:
VDD082 20m @ 1.1% Cu and 21% Fe from 53m
VDD083 28m @ 1.9% Cu and 20% Fe from 52m
including 18m @ 2.1% Cu from 62m
VDD084 19m @ 1.3% Cu and 28% Fe from 132m
VDD085 13m @ 1.1% Cu and 28% Fe from 28m
VDD086 79m @ 0.8% Cu and 26% Fe from 88m
including 43m @ 1.4% Cu and 31% Fe from 124m
VDD089 20m @ 1.0% Cu and 42% Fe from 120m
Drilling results are summarised in Table 1 and head assay results and location of drill intersections are shown in Figure 1.
In addition to the assay results reported above, Davis Tube Recovery (DTR) results have also been received for a number of previously drilled holes. These include:
VDD0068 22m @ 33% Wt Rec, 71.1% Fe and 0.8% SiO2 from 40m
VDD0070 23m @ 35% Wt Rec, 70.7% Fe and 0.8% SiO2 from 43m
VDD0077 14m @ 40% Wt Rec, 71.4% Fe and 0.6% SiO2 from 43m
VRC0019 13m @ 36% Wt Rec, 70.0% Fe and 1.2% SiO2 from 39m
Drilling results are summarised in Table 2 and DTR results and locations of reported drilling are shown in Figure 2.
The results indicate the magnetite mineralisation within the D Zone resource can be effectively upgraded to achieve a high quality iron concentrate.
International minerals company Avalon Minerals Ltd (ASX: AVI; “Avalon” or “the Company”) is pleased to announce that on-going exploration and resource development drilling at its 100%-owned Viscaria Copper-Iron Project in Northern Sweden has returned a series of outstanding results from the D Zone.
The drilling program is designed to upgrade the current mineral resource at D Zone of 9.0Mt at 0.6% Cu and 27% Fe to the Measured and Indicated category.
Recent drilling within the current resource envelope has returned wider and higher grade copper intersections than predicted by the September 2010 resource model, with best results including:
VDD082 20m @ 1.1% Cu and 21% Fe from 53m
VDD083 28m @ 1.9% Cu and 20% Fe from 52m
including 18m @ 2.1% Cu from 62m
VDD084 19m @ 1.3% Cu and 28% Fe from 132m
VDD085 13m @ 1.1% Cu and 28% Fe from 28m
VDD086 79m @ 0.8% Cu and 26% Fe from 88m
including 43m @ 1.4% Cu and 31% Fe from 124m
VDD089 20m @ 1.0% Cu and 42% Fe from 120m
Drilling results are summarised in Table 1 and head assay results and location of drill intersections are shown in Figure 1.
In addition to the assay results reported above, Davis Tube Recovery (DTR) results have also been received for a number of previously drilled holes. These include:
VDD0068 22m @ 33% Wt Rec, 71.1% Fe and 0.8% SiO2 from 40m
VDD0070 23m @ 35% Wt Rec, 70.7% Fe and 0.8% SiO2 from 43m
VDD0077 14m @ 40% Wt Rec, 71.4% Fe and 0.6% SiO2 from 43m
VRC0019 13m @ 36% Wt Rec, 70.0% Fe and 1.2% SiO2 from 39m
Drilling results are summarised in Table 2 and DTR results and locations of reported drilling are shown in Figure 2.
The results indicate the magnetite mineralisation within the D Zone resource can be effectively upgraded to achieve a high quality iron concentrate.
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@ adobee,
I am back to being able to push some money in the AVI direction, and as you seem to be most up to date around here, thought you may be able to answer a couple of questions.
You posted the article from The Age. Do you agree with the timeline Garimpeiro put forward for 2012 completion?
Also, there was talk in the Hartleys report of using the existing infrastructure 50kms away, to bring production sooner. Has that been shelved?
Lastly, i note the CR back in Feb. I haven't read the accounts as yet, do you think there is need for further dilution?
Cheers
I am back to being able to push some money in the AVI direction, and as you seem to be most up to date around here, thought you may be able to answer a couple of questions.
You posted the article from The Age. Do you agree with the timeline Garimpeiro put forward for 2012 completion?
Also, there was talk in the Hartleys report of using the existing infrastructure 50kms away, to bring production sooner. Has that been shelved?
Lastly, i note the CR back in Feb. I haven't read the accounts as yet, do you think there is need for further dilution?
Cheers
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I've been having a look over this stock and the numbers seem impressive if enough resource can be found in the D zone to lock in the 10 year, 3mtpa scenario. The CAPEX of $160m is also quite manageable.
The risks I've identified include the D zone not hosting a large enough level of resource to allow for this 10 year, 3mtpa scenario to take place. The recent drilling results seem to alay the res risks somewhat. Also, AVI being viable is dependant on mineral prices, but so too is any other miner. I also like that AVI is being conservative with the mineral prices it is using in it's calculations, and the fact that it could be producing sooner rather than later means that it could cash in on much higher Fe & Cu prices than what is currently being modelled. To those that have been following this stock for a longer period of time, what other risks are there with this project? Sweden is a great country to be mining in, the infrastructure is basically already there, and it's right next door to a massive iron ore mine so it should be no trouble to secure a buyer for the concerntrate. Have there been any whispers about where the copper may be sold, and also what type of development scenario the company is looking at? (i.e. financing the CAPEX through 100% debt, or whether they are looking for a partner to help develop the mine?)
Again, the numbers from the Hartley report look to stack up very favourably and I think I'll be looking to enter on Monday.
The risks I've identified include the D zone not hosting a large enough level of resource to allow for this 10 year, 3mtpa scenario to take place. The recent drilling results seem to alay the res risks somewhat. Also, AVI being viable is dependant on mineral prices, but so too is any other miner. I also like that AVI is being conservative with the mineral prices it is using in it's calculations, and the fact that it could be producing sooner rather than later means that it could cash in on much higher Fe & Cu prices than what is currently being modelled. To those that have been following this stock for a longer period of time, what other risks are there with this project? Sweden is a great country to be mining in, the infrastructure is basically already there, and it's right next door to a massive iron ore mine so it should be no trouble to secure a buyer for the concerntrate. Have there been any whispers about where the copper may be sold, and also what type of development scenario the company is looking at? (i.e. financing the CAPEX through 100% debt, or whether they are looking for a partner to help develop the mine?)
Again, the numbers from the Hartley report look to stack up very favourably and I think I'll be looking to enter on Monday.
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buy sell looking pretty positive at the moment ..
http://www.brisbanetimes.com.au/bus...t-like-mt-isa-in-the-snow-20110227-1b9xs.html
http://www.brisbanetimes.com.au/bus...t-like-mt-isa-in-the-snow-20110227-1b9xs.html
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Announcement Out.
If there any people more knowledgble than me reading this thread please feel free to comment on these results in you opinion..
CONTINUED HIGH GRADE COPPER INTERSECTIONS
FROM VISCARIA COPPER-IRON PROJECT, SWEDENInternational minerals company Avalon Minerals Ltd (ASX: AVI; “Avalon” or “the Company”) is pleased to announce that ongoing exploration and resource development drilling at its 100%-owned Viscaria Copper- Iron Project in Northern Sweden has delivered further outstanding results from the D Zone, with drilling continuing to return wider and higher grade copper intersections than were predicted by the September 2010 resource model.
Best results from the latest round of drilling include:
VDD0087 20m @ 0.5% Cu and 18% Fe from 92m
VDD0088 44m @ 1.2% Cu and 30% Fe from 58m
VDD0090 19m @ 0.9% Cu and 26% Fe from 94m
VDD0091 19m @ 1.0% Cu and 26% Fe from 136m
VDD0093 18m @ 1.4% Cu and 35% Fe from 95m
VRC0037 7m @ 1.71% Cu and 34% Fe from 36m
The copper and iron ore mineralisation at D Zone overlaps, presenting an attractive exploration and mining target. Metallurgical test work has demonstrated that the two metals can be easily separated with conventional processing.
HIGHLIGHTS
Ongoing exploration and resource development drilling has returned further
outstanding results from the D Zone, including:
o 18m @ 1.4% Cu and 35% Fe from 95m
o 44m @ 1.2% Cu and 30% Fe from 58m
o 19m @ 0.9% Cu and 26% Fe from 94m
Drilling extends D Zone mineralisation north, south and at depth Drilling of new down plunge targets at D Zone now underway Ongoing DTR metallurgical test work provides further confirmation magnetite mineralisation can be upgraded to high-quality +70% Fe product with low impurities, intersections include:
o 80m @ 71.1% Fe and 0.7% SiO₂ with 31% weight recovery from 89m
o 20m @ 71.0% Fe and 0.8% SiO₂, with 36% weight recovery from 119m
“The good ore width, strong copper grade and quality of the iron ore concentrate from
D Zone provide the potential for a low cost open cut mining operation,”
Avalon CEO, Andrew Munckton.
If there any people more knowledgble than me reading this thread please feel free to comment on these results in you opinion..
CONTINUED HIGH GRADE COPPER INTERSECTIONS
FROM VISCARIA COPPER-IRON PROJECT, SWEDENInternational minerals company Avalon Minerals Ltd (ASX: AVI; “Avalon” or “the Company”) is pleased to announce that ongoing exploration and resource development drilling at its 100%-owned Viscaria Copper- Iron Project in Northern Sweden has delivered further outstanding results from the D Zone, with drilling continuing to return wider and higher grade copper intersections than were predicted by the September 2010 resource model.
Best results from the latest round of drilling include:
VDD0087 20m @ 0.5% Cu and 18% Fe from 92m
VDD0088 44m @ 1.2% Cu and 30% Fe from 58m
VDD0090 19m @ 0.9% Cu and 26% Fe from 94m
VDD0091 19m @ 1.0% Cu and 26% Fe from 136m
VDD0093 18m @ 1.4% Cu and 35% Fe from 95m
VRC0037 7m @ 1.71% Cu and 34% Fe from 36m
The copper and iron ore mineralisation at D Zone overlaps, presenting an attractive exploration and mining target. Metallurgical test work has demonstrated that the two metals can be easily separated with conventional processing.
HIGHLIGHTS
Ongoing exploration and resource development drilling has returned further
outstanding results from the D Zone, including:
o 18m @ 1.4% Cu and 35% Fe from 95m
o 44m @ 1.2% Cu and 30% Fe from 58m
o 19m @ 0.9% Cu and 26% Fe from 94m
Drilling extends D Zone mineralisation north, south and at depth Drilling of new down plunge targets at D Zone now underway Ongoing DTR metallurgical test work provides further confirmation magnetite mineralisation can be upgraded to high-quality +70% Fe product with low impurities, intersections include:
o 80m @ 71.1% Fe and 0.7% SiO₂ with 31% weight recovery from 89m
o 20m @ 71.0% Fe and 0.8% SiO₂, with 36% weight recovery from 119m
“The good ore width, strong copper grade and quality of the iron ore concentrate from
D Zone provide the potential for a low cost open cut mining operation,”
Avalon CEO, Andrew Munckton.
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"with drilling continuing to return wider and higher grade copper intersections than were predicted by the September 2010 resource model"
Says it all really. AVI is looking for a resource upgrade that will allow for the 10 year, 3mtp/a mine scenario that was being looked at, and these results are very encouraging. This company is beginning to look very strong.
Says it all really. AVI is looking for a resource upgrade that will allow for the 10 year, 3mtp/a mine scenario that was being looked at, and these results are very encouraging. This company is beginning to look very strong.
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Latest news out for AVI
HIGHLIGHTS
● Deep drilling from D Zone exploration and resource development program has
returned further significant results, including:
o 23m @ 1.3% Cu and 38% Fe from 75m
o 32m @ 0.8% Cu and 29% Fe from 96m
o 17m @ 1.0% Cu and 38% Fe from 209m● Extends zone of higher grade copper mineralisation at D Zone at depth
● Further confirmation magnetite mineralisation can be upgraded to high-quality
+70% Fe product with low impurities, with latest results from DTR test work
including:
o 39m @ 71.4% Fe and 0.5% SiO₂ with 40% weight recovery from 57m
o 27m @ 71.4% Fe and 0.5% SiO₂, with 41% weight recovery from 102m
● A Zone resource development drilling returns strong VMS copper results,
including:
o 24m @ 1.8% Cu from 40m
● Phase 1 of Viscaria drilling program now complete
HIGHLIGHTS
● Deep drilling from D Zone exploration and resource development program has
returned further significant results, including:
o 23m @ 1.3% Cu and 38% Fe from 75m
o 32m @ 0.8% Cu and 29% Fe from 96m
o 17m @ 1.0% Cu and 38% Fe from 209m● Extends zone of higher grade copper mineralisation at D Zone at depth
● Further confirmation magnetite mineralisation can be upgraded to high-quality
+70% Fe product with low impurities, with latest results from DTR test work
including:
o 39m @ 71.4% Fe and 0.5% SiO₂ with 40% weight recovery from 57m
o 27m @ 71.4% Fe and 0.5% SiO₂, with 41% weight recovery from 102m
● A Zone resource development drilling returns strong VMS copper results,
including:
o 24m @ 1.8% Cu from 40m
● Phase 1 of Viscaria drilling program now complete
springhill
Make the drill work for YOU
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AVI report latest drill results.
Continuing thick copper and magnetite intersections at theD Zone Prospect on the Viscaria Project, Sweden
Highlights
● The fourth and final drill hole testing for extensions of high-grade copper mineralisation at the A and D Zone Mineral Resources on the Viscaria Project has been completed;
● Drill hole VDD0129 intersected a 61.3m thick copper and magnetite mineralised zone (down hole width) from 266.3m;
● The copper-magnetite mineralisation in VDD0129 extends the mineralisation intersected in VDD0128 (68.5m @ 0.6% Cu & 28.2% Fe from 177m, including 5.1m @ 2.1% Cu & 42% Fe and 6.4m @ 1.8% Cu & 34.5% Fe) over 50m down dip and indicates that it is probable that the current Mineral Resource for D Zone can be expanded;
● Drill hole VDD0129 was drilled outside of the currently defined Mineral Resource envelope at the D Zone prospect. The current Mineral Resource for D Zone comprises 11.9Mt at 0.6% Cu and 24% Fe. The Mineral Resource is reported above a 15% mass recovery for magnetite and a 0.0% copper grade cut-off and is classified as having 4.46Mt @ 0.5% Cu, 23.5% Fe Inferred, 6.1Mt @ 0.6% Cu, 24.8% Fe Indicated and 1.379Mt @ 0.5% Cu, 23.1% Fe Measured according to the guidelines of the JORC Code (2004);
● The copper mineralisation in drill hole VDD0129 consists of disseminations, veins and stringers of chalcopyrite mineralisation occurring within disseminated to banded to massive magnetite rich ironstones;
● A much larger drill program is scheduled to occur later in 2012 to increase significantly the Mineral Resources on the Viscaria Project;
● Assay results for drill hole VDD0129 are expected to be available in approximately 4 weeks.
Continuing thick copper and magnetite intersections at theD Zone Prospect on the Viscaria Project, Sweden
Highlights
● The fourth and final drill hole testing for extensions of high-grade copper mineralisation at the A and D Zone Mineral Resources on the Viscaria Project has been completed;
● Drill hole VDD0129 intersected a 61.3m thick copper and magnetite mineralised zone (down hole width) from 266.3m;
● The copper-magnetite mineralisation in VDD0129 extends the mineralisation intersected in VDD0128 (68.5m @ 0.6% Cu & 28.2% Fe from 177m, including 5.1m @ 2.1% Cu & 42% Fe and 6.4m @ 1.8% Cu & 34.5% Fe) over 50m down dip and indicates that it is probable that the current Mineral Resource for D Zone can be expanded;
● Drill hole VDD0129 was drilled outside of the currently defined Mineral Resource envelope at the D Zone prospect. The current Mineral Resource for D Zone comprises 11.9Mt at 0.6% Cu and 24% Fe. The Mineral Resource is reported above a 15% mass recovery for magnetite and a 0.0% copper grade cut-off and is classified as having 4.46Mt @ 0.5% Cu, 23.5% Fe Inferred, 6.1Mt @ 0.6% Cu, 24.8% Fe Indicated and 1.379Mt @ 0.5% Cu, 23.1% Fe Measured according to the guidelines of the JORC Code (2004);
● The copper mineralisation in drill hole VDD0129 consists of disseminations, veins and stringers of chalcopyrite mineralisation occurring within disseminated to banded to massive magnetite rich ironstones;
● A much larger drill program is scheduled to occur later in 2012 to increase significantly the Mineral Resources on the Viscaria Project;
● Assay results for drill hole VDD0129 are expected to be available in approximately 4 weeks.
Attachments
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On September 11th, 2017, Avalon Minerals Limited (AVI) changed its name and ASX code to Sunstone Metals Limited (STM).