Donnerstag, 11. April 2013

Lumina Copper: Informative Einblicke vom jüngsten Conference Call

Aufgezeichnet und kommentiert von World of Mining:
Lumina Copper’s PEA shows NPV of $2.1 billion

"..I listened to the conference call with a chipper David Strang, Lumina Copper CEO, and Marshall Koval, vice-president, corporate development, and was struck, again, at the gaping divide between fundamental value and share price performance in this market . A few quick takeaways and observations:
- Strang said the Taca Taca deposit compares “favourably” to Inmet/First Quantum’s Cobre Panama – he cited Taca Taca’s higher annual gold production – as well as other major undeveloped global copper deposits.
- Strang was asked by an analyst when the last site visits have been and his response was “Friday.” More site visits are expected this quarter, with the only hiccup Strang mentioned the difficulty obtaining visas. Strang said there was plenty of interest in China during his recent visit there.
- Lumina has about $6 million in working capital left. There are no drills turning, which should help contain the burn rate (as well as stifle news flow).
- The governor of Salta province and key cabinet ministers have been on-site recently and are very supportive. Strang referred to Salta as one of the most mining-friendly jurisdictions in the world, which seemed like a real stretch (he did qualify the remark by referencing the broader Argentina context).
- Strang ended the call with a statement that he hopes to give shareholders more updates “later this year.”
Skeptics should remember that this management team has come up with innovative ways to create shareholder value in the past, including not that long ago. In June 2011, Team Beaty spun out Lumina Royalty from Lumina Copper. Lumina Royalty was a private company made up of royalties on four of the old Lumina Copper’s projects in Chile and Argentina, including Relincho (Teck), Taca Taca (1% NSR royalty), San Jorge and Vizcachitas.."

Lumina Copper legt PEA für Taca Taca vor
Lumina Copper (V.LCC) legt ordentliche Ergebnisse in der ersten, vorläufigen Machbarkeitsschätzung für das Flaggschiff Taca Taca vor (siehe NR und 1. Grafik unten). Im Base Case sind die Zahlen für ein primäres Kupferprojekt relativ robust. Insbesondere der strategische Wert der kolossalen Cu-Au-Mo Lagerstätte als eine der zukünftig größten Kupfer/Gold-Minen in Südamerika sollte langfristig ziehen. Es ist auch das größte Cu-Au Deposit, das von einem Junior gehalten wird. Dazu kommen eine lukrative Preissensitivität (siehe 2. Grafik unten) und ein solides LOM-Kostenprofil. .

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