Based on historical production figures, remaining resources, updated capital and operating costs it can be argued that Salau may be worth between US$60-90mln and that if Aurenere turned out to be of similar size, then a similar valuation would apply. In addition, the stand-alone gold potential would need to be included so any estimate of company value at this stage would be unhelpfully broad. In our opinion, the market seems to have placed about half the value on the tungsten assets at Salau and the rest on the track record of the management team. We look forward to an active field season in 2018 where we expect to see further results from the field.Full report is available via Capital Network website
Castillo Copper (ASX:CCZ) is a metal explorer primarily focussed on Copper, Zinc, Cobalt, and Nickel. The bulk of Castillo’s assets are in Eastern Australia, comprising 4 tenure groups in Queensland and New South Wales (NSW). The flagship project consists of three prospects at Jackaderry in NSW which are highly prospective for Copper-Cobalt-Zinc.