Tiger Resources (ASX:TGS) has produced first copper cathode (100% copper sheets) from its new Kipoi plant

Tiger Resources (ASX:TGS) has produced first copper cathode (100% copper sheets) from its new Kipoi plant. We forecast that all in sustaining costs to produce copper is US$0.93 per pound in CY15. The current spot price is US$3.18. We have a 12 year life of mine however there is a high probability that this would be extended with further drilling. First copper cathode production proves that the process works and that cashflow will increase markedly. The stock is trading on 3.9x CY15 PE and should now become a nice little earner. We note that the company's AGM presentation of 20 May (page 31) mentions Pay dividends' as part of Tiger's future. The company's presentations can be found here (VIEW LINK)


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