Anova Metals' (ASX: AWV) share price has doubled since January as it moves towards first production at its low-cost Nevada gold mine
Anova Metals' (ASX: AWV) share price has doubled since January as it moves towards first production at its low-cost Nevada gold mine. With final permitting for the initial stages expected during late Q2 2015, open-pit mining is set to commence during mid-2015. Big Springs is a high-quality asset, with a clear, rapid and importantly low-risk path to production. It requires low start-up capital of just US$2 million for the initial open-pit phase, as ore will be processed via a toll-treatment agreement at the neighbouring Jerritt Canyon mine operation. This eliminates the need to build a treatment plant, which in addition to minimizing costs, simplifies permitting and significantly reduces development timelines and start-up risk. The doubling of Anova's share price since January reflects growing market appreciation of its potential.
Gavin has been a senior resources analyst following the mining and energy sectors for the past 25 years, working with Intersuisse and Fat Prophets. He is also the Executive Director, Mining & Metals with Independent Investment Research (IIR).