AEV 7.14% 1.5¢ avenira limited

starting mining

  1. 3,048 Posts.
    The big question is how long will it take to get the first dig on the mine. By getting a jump on the drilling by 3 months the feasibility study can move along quicker. The MD extended the indicative timetable to start mining in April 2010 but the amount of time taken for each project was overestimated in my opinion. If this securement of drilling logs from the NT govt speeds up the process then they may be able to start mining in Sep 2009, 8 months ahead of schedule.

    I am sure that MAK figured out it would be a lot harder to construct a mine in the wet and so they extended all of the timetable to begin in April at the end of the wet (the massive rain season that lasts six months). If the cards fall in the right spot they could be up and running a lot quicker.

    Here are some areas where speed could be found.

    The feasibility study has been started 1 month early. Further drilling of the different zones will not be finished until May with JORC in July/August. If the feasibility study is completed in 8 months--March 2009 that would not be unreasonable.

    Financing is taken to begin in April 2009 until Feb 2010. Who the hell finances a 30 mil capex over 10 months. Tenders for forward sales of contracts should take 4 months, 6 at the outside. MAK will have a 6 mill cash injection in December from the expiry of options. No one here will imagine MAK SP below 30 cents now so that is a given.

    If tenders are called for in March 2009 and the process completed by August 2009, construction could begin in September upon receipt of forward sales cash.

    Are my figures that far out?
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