AUSTRALIA
DRX.ax
0,02 AU$
0,00%
(DRX) | Price = 1.1c | Target = 7.2c | DRX =3A Cyclone DFS soon=3B Tick Hill =3A 22koz gold in Reso
Publié le 01 février 2016
Tick Hill : 21,800oz in Indicated Resources |
| |
DRX has announced an Indicated Resource of 21,800oz for the tailings dams at Tick Hill. Preliminary met testwork has given recoveries of over 95%.
Click here for report
|
 |
Cyclone Reserves increased |
| |
In April 2015, DRX announced an increase in Resources at Cyclone, to 211Mt, of which 155Mt was Measured.
In December, DRX announced that Reserves at Cyclone had been increased, to 140Mt, from 97Mt previously, increasing the mine life from 10 to 14 years.
CClick here for all Beer & Co research :
|
|
Cyclone Definitive Feasibility Study |
| |
DRX announced that final regulatory approvals are expected by March.
DRX is completing its DFS, which will lead to serious negotiations with end users to finance development of Cyclone.
Click here to access copy of report :
|
|
Revised DFS |
| |
Compared with the PFS, Beer & Co expects that all inputs will be lower :
- Beer & Co has revised our model for lower commodity prices and we now project gross annual revenue of US$ 128m, compared with US$ 168m previously in the early years;
- Oil prices are now much lower than the $95/bbl averaged for 2014, and Beer & Co now projects average annual Australian based operating costs of $A 69m, compared with $A 76m in October 2014;
- Our capital costs estimate is also lower, from $A 146m to $A 127m.
Click here for all Beer & Co research :
|
|
Beer & Co conclusions |
| |
Beer & Co assume that DRX sells a stake in the Cyclone to assist in the financing of its development. This value will depend on commodity prices assumed in that assessment.
Click here to access full copy of initiation report :
|
|
Beer & Co conclusions |
| |
Beer & Co expects the major driver of the DRX share price will be the conclusion of an investment agreement. However, there is a very high risk around our valuation. We affirm our BUY, High Risk recommendation.
Click here for report :
|
|
 |
 |
|
|
|
|
 |
Beer&Co.
ACN 158 837 186
Authorised representative Melbourne Venture Securities Pty Ltd
www.beerandco.com.au |
Author:
Pieter Bruinstroop
pbruinstroop@beerandco.com.au  |
 |
Copyright  2015 beerandco.com.au, All rights reserved.
You are receiving this email because you have subscribed to our newsletter list. If you do not wish to receive our newsletter emails in the future, please unsubscribe here.
DISCLAIMER IMPORTANT: This message is for the intended recipient's use only. If you are not the intended recipient(s), please notify the sender immediately and delete the message and any attachments from your system. This message may contain confidential, proprietary or privileged information. No confidentiality or privilege is waived or lost by any transmission errors. You should not read, print, copy or use it for any purpose, nor disclose its contents to any other person. Beer and Co Pty Ltd cannot guarantee that this email message is secure or error-free. No guarantee is made that any attachment(s) are virus free. You should check all emails and attachment(s) for viruses and defects before opening and using them. Beer and Co Pty Ltd and its associates hold or may hold securities in the companies/trusts mentioned herein. To the extent that this email contains any financial product advice, it is limited to general advice only. Although the information is believed to be reliable, Beer and Co Pty Ltd does not guarantee its accuracy and it may be incomplete. Unless stated otherwise, Beer and Co Pty Ltd has not taken into account your investment objectives or financial situation when preparing the information contained in or attached to this email and therefore may not be applicable to your particular circumstances. You should obtain your own financial advice before making an investment decision. Past performance is no indication of future performance. Any reference to the terms of executed transactions is preliminary only and subject to written confirmation. This email is made available to you in Australia by Beer and Co Pty Ltd (ABN 88 158 837 186, AFSL 224 313). | |
