Carbine Resources (CRB.ASX) is re-developing the historical Mount Morgan gold and copper tailings project in Queensland

Adam Kiley

TheSophisticatedInvestor.com.au

Carbine Resources (CRB.ASX) is re-developing the historical Mount Morgan gold and copper tailings project in Queensland. Carbine released a positive Scoping Study in late 2014 that forecasted production of 36,000oz pa over an initial 8 year mine life. However the most attractive aspect of the project are the low AISC that are forecasted to be less than US$400/oz Au, mainly due to by-product credits. We have determined a base case valuation of $0.17 per share. However, we believe there is significant upside potential in our valuation as we believe there is scope for an increase in the resource (confidence level, size & grade), as well as a reduction in capital and operating costs. This could see our valuation increase up to $0.46 per share. For the full analyst report which includes video of the site trip to the operation, management interviews and a detailed explanation of our valuation analysis click here (VIEW LINK)


Adam Kiley
Director
TheSophisticatedInvestor.com.au

Adam is the Founder and Principal of thesophisticatedinvestor.com.au (TSI Capital). TSI provides equity analysis of listed companies, however, is different from traditional providers as TSI presents its analysis in a video format. This includes...

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