Avion Gold Corporation is a growing gold producer in West Africa with exploration upside. The company has profitable production at its Tabakoto mine in Mali, where it is doubling mill capacity. Avion also has exploration projects in Mali and Burkina Faso with mineral resources totaling over 3 million ounces. The presentation provides an overview of Avion's assets and growth strategy, and highlights its undervaluation relative to peers.
Avion Gold Corporation is a growing gold producer in West Africa with exploration upside. The company is increasing production from 91,230 ounces in 2011 to a target of 200,000 ounces in the latter half of 2012 through expanding its milling capacity and advancing exploration projects. Avion added over 1.1 million ounces of M&I resources and 564,000 ounces of inferred resources in 2011 and early 2012, demonstrating an increasing resource base across its properties in Mali and Burkina Faso.
This document discusses a gold mining company with production assets in West Africa and exploration upside. The company is ramping up production to 200,000 ounces annually by the second half of 2012 through a new larger mill. Recent exploration added over 1 million ounces to measured and indicated resources and over 500,000 ounces to inferred resources. The company is located in Mali, Africa's third largest gold producer, and sees 10-year production potential from resource expansion at its Tabakoto mine.
This document discusses a gold mining company with production assets in West Africa and exploration upside. The company is ramping up production to 200,000 ounces annually by the second half of 2012 through expansion of its milling capacity. It also recently added over 1 million ounces to its measured and indicated resource base along with over 500,000 inferred ounces through exploration. The company is located in Mali, Africa's third largest gold producer, giving it access to well-established mining jurisdiction.
Avion Gold is a growing gold producer in West Africa with operations in Mali. The company is ramping up production to reach a run rate of 200,000 ounces of gold per year by the first quarter of 2012. This significant production increase is expected to drive a large increase in Avion's market capitalization over the next 7 months. Avion has a large land package in Mali with exploration potential to further expand its resource base.
1) Avion Gold Corporation is a growing gold producer in West Africa with exploration upside.
2) The company owns the Tabakoto gold mine in Mali, which is exceeding production expectations from its underground operations and identifying new ore sources.
3) Avion is also working on a PEA for its Hounde gold project in Burkina Faso, expected to be delivered in the second half of 2022.
Avion Gold Corporation is a gold producer in West Africa with operations in Mali and exploration properties in Mali and Burkina Faso. In 2012, Avion is forecasting gold production of 95,000-102,000 ounces from its Tabakoto mine in Mali. Avion is also conducting a 60,000 meter exploration program and expects to issue updated resource and reserve reports. A preliminary economic assessment is underway for the Houndé project in Burkina Faso. Avion has a large resource base across its properties and sees potential for production growth through mine expansions and development of new deposits.
Avion Gold is a new gold producer in Mali with increasing production and resource base. The company plans to ramp up production to 200,000 ounces per year by 2012 through exploration, resource expansion, and plant upgrades. Avion has over 1.3 million ounces of measured and indicated resources and 2.1 million ounces of inferred resources across its properties in Mali. The company aims to continue growing its low-cost production and exploiting exploration upside in its large land package.
On February 12, 2013, the Canada Mining Innovation Council held its 2nd Annual Signature Event, a mining conference bringing representatives from industry, government, academia, and other sectors together in Toronto to discuss the role of innovation in the industry's future. Gary Merasty, the VP of Corporate Social Responsibility at Cameco Corporation, presented the role of business in building and engaging communities.
Avion Gold Corporation is a growing gold producer in West Africa with exploration upside. The company is increasing production from 91,230 ounces in 2011 to a target of 200,000 ounces in the latter half of 2012 through expanding its milling capacity and advancing exploration projects. Avion added over 1.1 million ounces of M&I resources and 564,000 ounces of inferred resources in 2011 and early 2012, demonstrating an increasing resource base across its properties in Mali and Burkina Faso.
This document discusses a gold mining company with production assets in West Africa and exploration upside. The company is ramping up production to 200,000 ounces annually by the second half of 2012 through a new larger mill. Recent exploration added over 1 million ounces to measured and indicated resources and over 500,000 ounces to inferred resources. The company is located in Mali, Africa's third largest gold producer, and sees 10-year production potential from resource expansion at its Tabakoto mine.
This document discusses a gold mining company with production assets in West Africa and exploration upside. The company is ramping up production to 200,000 ounces annually by the second half of 2012 through expansion of its milling capacity. It also recently added over 1 million ounces to its measured and indicated resource base along with over 500,000 inferred ounces through exploration. The company is located in Mali, Africa's third largest gold producer, giving it access to well-established mining jurisdiction.
Avion Gold is a growing gold producer in West Africa with operations in Mali. The company is ramping up production to reach a run rate of 200,000 ounces of gold per year by the first quarter of 2012. This significant production increase is expected to drive a large increase in Avion's market capitalization over the next 7 months. Avion has a large land package in Mali with exploration potential to further expand its resource base.
1) Avion Gold Corporation is a growing gold producer in West Africa with exploration upside.
2) The company owns the Tabakoto gold mine in Mali, which is exceeding production expectations from its underground operations and identifying new ore sources.
3) Avion is also working on a PEA for its Hounde gold project in Burkina Faso, expected to be delivered in the second half of 2022.
Avion Gold Corporation is a gold producer in West Africa with operations in Mali and exploration properties in Mali and Burkina Faso. In 2012, Avion is forecasting gold production of 95,000-102,000 ounces from its Tabakoto mine in Mali. Avion is also conducting a 60,000 meter exploration program and expects to issue updated resource and reserve reports. A preliminary economic assessment is underway for the Houndé project in Burkina Faso. Avion has a large resource base across its properties and sees potential for production growth through mine expansions and development of new deposits.
Avion Gold is a new gold producer in Mali with increasing production and resource base. The company plans to ramp up production to 200,000 ounces per year by 2012 through exploration, resource expansion, and plant upgrades. Avion has over 1.3 million ounces of measured and indicated resources and 2.1 million ounces of inferred resources across its properties in Mali. The company aims to continue growing its low-cost production and exploiting exploration upside in its large land package.
On February 12, 2013, the Canada Mining Innovation Council held its 2nd Annual Signature Event, a mining conference bringing representatives from industry, government, academia, and other sectors together in Toronto to discuss the role of innovation in the industry's future. Gary Merasty, the VP of Corporate Social Responsibility at Cameco Corporation, presented the role of business in building and engaging communities.
Copper exchange inventories have remained roughly constant for the last few weeks. Could it be just a pause for a market heading towards a surplus this year or another unexpected deficit like in previous years?
Update on metals market and junior mining companies listed on the Australian Securities Exchange
This presentation provides an investment case for North American Palladium. It notes that NAP is transitioning into a long-life, low-cost palladium producer with steady production growth. It highlights NAP's leverage to rising palladium prices and attractive jurisdiction compared to South African peers. The presentation also outlines NAP's development and exploration upside, experienced management team, and strong balance sheet to fund growth.
- Primero reported its second quarter 2014 results on August 7, 2014.
- Revenue increased 52% to $80 million compared to Q2 2013. Production also increased significantly across operations.
- Cash costs remained low and the company has a strong cash balance with additional liquidity through an undrawn credit line, providing funding for continued growth with no shareholder dilution.
This presentation provides an overview of North American Palladium's investment case. It discusses NAP's transition into a long-life, low-cost palladium producer through expansion of its Lac des Iles mine in Ontario, Canada. The expansion includes sinking a new shaft to increase underground mining rates and production to over 250,000 ounces of palladium annually by 2015 at cash costs of around $200 per ounce. Near-term catalysts include commissioning the new shaft by the end of 2012 and growing production to 150,000-160,000 ounces in 2012. The presentation also reviews positive fundamentals for palladium including constrained mine supply and increasing demand from auto catalysts.
1) The document discusses Detour Gold Corporation's 2014 operating plan and life of mine plan for its Detour Lake mine in Ontario, Canada. The 2014 plan targets producing 450,000-500,000 ounces of gold at total cash costs of $800-900 per ounce sold.
2) The updated life of mine plan extends the mine life to over 20 years with average annual production of 660,000 ounces of gold and total cash costs of $723 per ounce sold. Total proven and probable reserves are estimated at 15.5 million ounces of gold.
3) Opportunities to optimize operations over the life of mine include increasing mill throughput, reducing dilution, improving mill recoveries, expanding reserves through exploration
NAP is an intermediate palladium producer with its primary asset being the Lac des Iles mine in Ontario, Canada. The presentation discusses NAP's investment case which includes commodity fundamentals that are positive for palladium with constrained supply and growing demand from the automotive sector. NAP is undertaking an expansion at LDI to transition it into a long-life, low cost mine with steady production growth to over 250,000 ounces per year. The expansion is on track and low risk due to NAP's experienced team and existing infrastructure.
This document is a 38th edition newsletter from Oz Metals dated July 19th, 2015. It provides a disclaimer and then summarizes recent developments in base and precious metal markets, major company news, and funding/M&A transactions. The summaries focus on gold, copper, nickel, tin, zinc, and specialty metals. Specific stories cover Barrick Gold hitting a 25-year low, China's copper imports and production, India's efforts to increase gold transaction transparency, and leadership changes at Nyrstar.
Primero Mining Corporation owns and operates the San Dimas gold-silver mine in Mexico. The document discusses Primero's strategy to optimize operations at San Dimas, expand resources through exploration, and pursue growth through potential acquisitions in Latin America to become a leading mid-tier gold producer. Recent exploration success has already replaced the estimated 2010 gold production at San Dimas and identified a multi-million ounce resource potential in the Sinaloa Graben area.
- Lion One Metals is developing the high-grade Tuvatu Gold Project in Fiji which has over 100,000m of drilling completed and underground development to 240m depth.
- A PEA shows robust economics for an underground mine with average diluted head grade of 11.3 g/t Au, CAPEX of $48.6M, 567/oz cash costs and 779/oz all-in sustaining costs.
- Processing involves crushing, grinding, gravity concentration, flotation and leaching to produce up to 200,000 oz of gold over a 7.4 year mine life with a 15 month development schedule and 1.5 year payback.
- North American Palladium is a growth-oriented precious metals producer focused on palladium and gold.
- It operates the Lac des Iles palladium mine in Canada, one of only two primary palladium mines globally. Lac des Iles is transitioning to a long-life, low-cost mine.
- The company also operates the Sleeping Giant gold mine in Canada and has exploration projects that could expand palladium and gold production.
Richmont Mines reported third quarter 2016 financial results and operational highlights. Key points include:
- In-line production at Island Gold mine in Q3, with positive reconciliation of 37% compared to reserves.
- Beaufor mine production was lower due to equipment availability issues, but costs are expected to decrease as higher grade stoping increases.
- Strong cash position of $78.9 million to fund potential expansion at Island Gold to 1,100 tpd production.
- Near-mine drilling continuing to expand resources at Island Gold to incorporate in expansion study in H1 2017.
- Detour Gold is a Canadian gold producer with its only operation being the Detour Lake Mine in Ontario.
- In the first half of 2014, Detour Gold produced 224,520 ounces of gold at a total cash cost of US$956 per ounce sold and repaid US$40 million of debt.
- While mining and milling rates in Q2 2014 were below plan, head grades were higher than expected and costs per ounce continue to trend downward with ramp-up progress.
- Primero acquired the San Dimas gold-silver mine in Mexico which has produced over 30 million ounces of silver and 1.6 million ounces of gold historically.
- The mine has an estimated 5 year average production of 157,000 gold equivalent ounces at a cash cost of $337 per ounce and significant exploration potential.
- Primero has implemented optimization initiatives at San Dimas including a new dry tailings system, improved power infrastructure, and increased mining rates to improve production and reduce costs.
This document provides guidance and targets for Detour Gold Corporation's operations in 2014. It includes the following key points:
1) 2014 production is estimated to be between 450,000 to 500,000 ounces of gold, with 200,000-225,000 ounces in the first half and 250,000-275,000 ounces in the second half.
2) Total cash costs per ounce of gold sold are estimated to be $800-$900. Capital expenditures are budgeted at $131 million, including $35 million for deferred stripping.
3) The 2014 operating plan aims for steady state production and optimization, including increasing mill throughput to 55,000 tons per day by the fourth quarter.
This investor presentation provides an overview of Rowan Companies and highlights reasons for investing in the company. Some key points include:
- Rowan has differentiated itself in the offshore drilling industry by focusing on demanding wells and owning a fleet of high-specification rigs well-positioned for key markets.
- The company has a large, diversified contract backlog that extends into 2018 and a strong balance sheet to pursue growth opportunities.
- Industry dynamics are favorable for Rowan as older rigs nearing the end of their lifespans will need to be replaced, and the company's rigs have scored well above average in capability assessments.
Lake Shore Gold Corp. is a Canadian gold producer that operates the Timmins West and Bell Creek mines and milling complex in Timmins, Ontario. The presentation provides an overview of the company's operations and financial results. Key points include:
- Production guidance of 180,000 ounces of gold in 2015 at an all-in sustaining cost of less than $950 per ounce.
- 136,200 ounces were produced in the first nine months of 2015, meeting guidance.
- Cash and bullion balances increased to $88 million as of October 2015, with $26 million in free cash flow generated year-to-date.
- Exploration success has extended mine life at Timmins West and increased reserves at
Crocodile Gold Annual General Meeting Presentation 2012Crocodile Gold
This document provides information on Crocodile Gold Corp., a mid-tier gold mining company based in Australia. It discusses Crocodile Gold's recent acquisition of the Fosterville and Stawell gold mines from AuRico Gold, which will increase Crocodile Gold's annual gold production to between 200,000-230,000 ounces. The acquisition creates a more diversified Australian-focused gold producer and provides synergies between the management teams and operations. Crocodile Gold plans to continue growing through exploration and potential further acquisitions to become a consolidator in the Australian gold mining industry.
- Richmont Mines is positioned for sustainable growth with a quality asset base in Canada including its Island Gold and Beaufor mines. In 2015, mineral reserves increased 187% to over 625,000 ounces of gold.
- Production is expected to grow while costs decrease. Island Gold mine life has increased to 7 years with exploration potential to expand resources.
- The company has a strong balance sheet with $61 million in cash and low debt to fund its strategic growth plan while benefiting from Canadian dollar exposure.
Clean air metals corporate presentation - full versio-dec-23-2021AdnetNew
- Clean Air Metals released a preliminary economic assessment and path forward for its Thunder Bay North Project in December 2021.
- The PEA outlined a 10 year mine life with strong economics including an after-tax IRR of 29.8% and NPV of $378.4 million.
- Metallurgical test work showed potential recoveries of 95.5% for copper, 52.1% for nickel, and over 80% for platinum, palladium, and gold.
This document discusses a gold mining company with operations in West Africa. It highlights the company's plans to increase production from 91,230 ounces in 2011 to around 200,000 ounces in the second half of 2012. This expected production increase could significantly increase the company's valuation in the latter half of 2012. The company also recently added over 1 million ounces to its measured and indicated resource base and over 500,000 ounces to its inferred resource base through exploration in 2011 and early 2012.
This document discusses a gold mining company with operations in West Africa. It highlights the company's plans to increase annual gold production to 200,000 ounces by the latter half of 2012 through commissioning a new larger mill. The company also recently increased its measured and indicated resource base by adding over 800,000 ounces of gold through exploration in 2011. The company owns several gold assets in Mali, a major gold producing country in West Africa, providing exploration upside potential.
This document discusses a growing gold producer in West Africa called Avion Gold. Key points include:
- Avion plans to increase its annual gold production from 87,630 ounces in 2010 to a run rate of 200,000 ounces after the first quarter of 2012.
- The company expects this significant production increase to lead to a substantial increase in its market valuation within 6 months.
- Avion is also looking to increase its resource base through ongoing exploration efforts.
- The company's properties are located in Mali, which is Africa's third largest gold producing country.
Copper exchange inventories have remained roughly constant for the last few weeks. Could it be just a pause for a market heading towards a surplus this year or another unexpected deficit like in previous years?
Update on metals market and junior mining companies listed on the Australian Securities Exchange
This presentation provides an investment case for North American Palladium. It notes that NAP is transitioning into a long-life, low-cost palladium producer with steady production growth. It highlights NAP's leverage to rising palladium prices and attractive jurisdiction compared to South African peers. The presentation also outlines NAP's development and exploration upside, experienced management team, and strong balance sheet to fund growth.
- Primero reported its second quarter 2014 results on August 7, 2014.
- Revenue increased 52% to $80 million compared to Q2 2013. Production also increased significantly across operations.
- Cash costs remained low and the company has a strong cash balance with additional liquidity through an undrawn credit line, providing funding for continued growth with no shareholder dilution.
This presentation provides an overview of North American Palladium's investment case. It discusses NAP's transition into a long-life, low-cost palladium producer through expansion of its Lac des Iles mine in Ontario, Canada. The expansion includes sinking a new shaft to increase underground mining rates and production to over 250,000 ounces of palladium annually by 2015 at cash costs of around $200 per ounce. Near-term catalysts include commissioning the new shaft by the end of 2012 and growing production to 150,000-160,000 ounces in 2012. The presentation also reviews positive fundamentals for palladium including constrained mine supply and increasing demand from auto catalysts.
1) The document discusses Detour Gold Corporation's 2014 operating plan and life of mine plan for its Detour Lake mine in Ontario, Canada. The 2014 plan targets producing 450,000-500,000 ounces of gold at total cash costs of $800-900 per ounce sold.
2) The updated life of mine plan extends the mine life to over 20 years with average annual production of 660,000 ounces of gold and total cash costs of $723 per ounce sold. Total proven and probable reserves are estimated at 15.5 million ounces of gold.
3) Opportunities to optimize operations over the life of mine include increasing mill throughput, reducing dilution, improving mill recoveries, expanding reserves through exploration
NAP is an intermediate palladium producer with its primary asset being the Lac des Iles mine in Ontario, Canada. The presentation discusses NAP's investment case which includes commodity fundamentals that are positive for palladium with constrained supply and growing demand from the automotive sector. NAP is undertaking an expansion at LDI to transition it into a long-life, low cost mine with steady production growth to over 250,000 ounces per year. The expansion is on track and low risk due to NAP's experienced team and existing infrastructure.
This document is a 38th edition newsletter from Oz Metals dated July 19th, 2015. It provides a disclaimer and then summarizes recent developments in base and precious metal markets, major company news, and funding/M&A transactions. The summaries focus on gold, copper, nickel, tin, zinc, and specialty metals. Specific stories cover Barrick Gold hitting a 25-year low, China's copper imports and production, India's efforts to increase gold transaction transparency, and leadership changes at Nyrstar.
Primero Mining Corporation owns and operates the San Dimas gold-silver mine in Mexico. The document discusses Primero's strategy to optimize operations at San Dimas, expand resources through exploration, and pursue growth through potential acquisitions in Latin America to become a leading mid-tier gold producer. Recent exploration success has already replaced the estimated 2010 gold production at San Dimas and identified a multi-million ounce resource potential in the Sinaloa Graben area.
- Lion One Metals is developing the high-grade Tuvatu Gold Project in Fiji which has over 100,000m of drilling completed and underground development to 240m depth.
- A PEA shows robust economics for an underground mine with average diluted head grade of 11.3 g/t Au, CAPEX of $48.6M, 567/oz cash costs and 779/oz all-in sustaining costs.
- Processing involves crushing, grinding, gravity concentration, flotation and leaching to produce up to 200,000 oz of gold over a 7.4 year mine life with a 15 month development schedule and 1.5 year payback.
- North American Palladium is a growth-oriented precious metals producer focused on palladium and gold.
- It operates the Lac des Iles palladium mine in Canada, one of only two primary palladium mines globally. Lac des Iles is transitioning to a long-life, low-cost mine.
- The company also operates the Sleeping Giant gold mine in Canada and has exploration projects that could expand palladium and gold production.
Richmont Mines reported third quarter 2016 financial results and operational highlights. Key points include:
- In-line production at Island Gold mine in Q3, with positive reconciliation of 37% compared to reserves.
- Beaufor mine production was lower due to equipment availability issues, but costs are expected to decrease as higher grade stoping increases.
- Strong cash position of $78.9 million to fund potential expansion at Island Gold to 1,100 tpd production.
- Near-mine drilling continuing to expand resources at Island Gold to incorporate in expansion study in H1 2017.
- Detour Gold is a Canadian gold producer with its only operation being the Detour Lake Mine in Ontario.
- In the first half of 2014, Detour Gold produced 224,520 ounces of gold at a total cash cost of US$956 per ounce sold and repaid US$40 million of debt.
- While mining and milling rates in Q2 2014 were below plan, head grades were higher than expected and costs per ounce continue to trend downward with ramp-up progress.
- Primero acquired the San Dimas gold-silver mine in Mexico which has produced over 30 million ounces of silver and 1.6 million ounces of gold historically.
- The mine has an estimated 5 year average production of 157,000 gold equivalent ounces at a cash cost of $337 per ounce and significant exploration potential.
- Primero has implemented optimization initiatives at San Dimas including a new dry tailings system, improved power infrastructure, and increased mining rates to improve production and reduce costs.
This document provides guidance and targets for Detour Gold Corporation's operations in 2014. It includes the following key points:
1) 2014 production is estimated to be between 450,000 to 500,000 ounces of gold, with 200,000-225,000 ounces in the first half and 250,000-275,000 ounces in the second half.
2) Total cash costs per ounce of gold sold are estimated to be $800-$900. Capital expenditures are budgeted at $131 million, including $35 million for deferred stripping.
3) The 2014 operating plan aims for steady state production and optimization, including increasing mill throughput to 55,000 tons per day by the fourth quarter.
This investor presentation provides an overview of Rowan Companies and highlights reasons for investing in the company. Some key points include:
- Rowan has differentiated itself in the offshore drilling industry by focusing on demanding wells and owning a fleet of high-specification rigs well-positioned for key markets.
- The company has a large, diversified contract backlog that extends into 2018 and a strong balance sheet to pursue growth opportunities.
- Industry dynamics are favorable for Rowan as older rigs nearing the end of their lifespans will need to be replaced, and the company's rigs have scored well above average in capability assessments.
Lake Shore Gold Corp. is a Canadian gold producer that operates the Timmins West and Bell Creek mines and milling complex in Timmins, Ontario. The presentation provides an overview of the company's operations and financial results. Key points include:
- Production guidance of 180,000 ounces of gold in 2015 at an all-in sustaining cost of less than $950 per ounce.
- 136,200 ounces were produced in the first nine months of 2015, meeting guidance.
- Cash and bullion balances increased to $88 million as of October 2015, with $26 million in free cash flow generated year-to-date.
- Exploration success has extended mine life at Timmins West and increased reserves at
Crocodile Gold Annual General Meeting Presentation 2012Crocodile Gold
This document provides information on Crocodile Gold Corp., a mid-tier gold mining company based in Australia. It discusses Crocodile Gold's recent acquisition of the Fosterville and Stawell gold mines from AuRico Gold, which will increase Crocodile Gold's annual gold production to between 200,000-230,000 ounces. The acquisition creates a more diversified Australian-focused gold producer and provides synergies between the management teams and operations. Crocodile Gold plans to continue growing through exploration and potential further acquisitions to become a consolidator in the Australian gold mining industry.
- Richmont Mines is positioned for sustainable growth with a quality asset base in Canada including its Island Gold and Beaufor mines. In 2015, mineral reserves increased 187% to over 625,000 ounces of gold.
- Production is expected to grow while costs decrease. Island Gold mine life has increased to 7 years with exploration potential to expand resources.
- The company has a strong balance sheet with $61 million in cash and low debt to fund its strategic growth plan while benefiting from Canadian dollar exposure.
Clean air metals corporate presentation - full versio-dec-23-2021AdnetNew
- Clean Air Metals released a preliminary economic assessment and path forward for its Thunder Bay North Project in December 2021.
- The PEA outlined a 10 year mine life with strong economics including an after-tax IRR of 29.8% and NPV of $378.4 million.
- Metallurgical test work showed potential recoveries of 95.5% for copper, 52.1% for nickel, and over 80% for platinum, palladium, and gold.
This document discusses a gold mining company with operations in West Africa. It highlights the company's plans to increase production from 91,230 ounces in 2011 to around 200,000 ounces in the second half of 2012. This expected production increase could significantly increase the company's valuation in the latter half of 2012. The company also recently added over 1 million ounces to its measured and indicated resource base and over 500,000 ounces to its inferred resource base through exploration in 2011 and early 2012.
This document discusses a gold mining company with operations in West Africa. It highlights the company's plans to increase annual gold production to 200,000 ounces by the latter half of 2012 through commissioning a new larger mill. The company also recently increased its measured and indicated resource base by adding over 800,000 ounces of gold through exploration in 2011. The company owns several gold assets in Mali, a major gold producing country in West Africa, providing exploration upside potential.
This document discusses a growing gold producer in West Africa called Avion Gold. Key points include:
- Avion plans to increase its annual gold production from 87,630 ounces in 2010 to a run rate of 200,000 ounces after the first quarter of 2012.
- The company expects this significant production increase to lead to a substantial increase in its market valuation within 6 months.
- Avion is also looking to increase its resource base through ongoing exploration efforts.
- The company's properties are located in Mali, which is Africa's third largest gold producing country.
Avion Gold is a gold producer in West Africa that is ramping up production. It produced 87,630 ounces of gold in 2010 and aims to increase production to 200,000 ounces per year by 2012. The company has acquired several gold assets in Mali at a fraction of their value. It is exploring these properties aggressively to increase resources and expects its valuation to double as production ramps up.
This document summarizes a gold mining company operating in West Africa. It highlights that the company plans to increase production from 87,630 ounces in 2010 to 200,000 ounces by 2012. It also notes that increasing production and higher grades are expected to reduce costs and make the company cash flow positive with over $32 million in reserves. The document argues that this production increase should lead to a 100% increase in the company's valuation within 12 months.
This document summarizes a gold mining company operating in West Africa. It highlights that the company plans to increase production from 87,630 ounces in 2010 to 200,000 ounces by 2012. It also notes that increasing production and higher grades are expected to reduce costs from $650/ounce to $560/ounce. The company has $32 million in cash and is cash flow positive. It expects its valuation to double within 12 months as it ramps up production.
Avion Gold is a growing gold producer in West Africa with operations in Mali. It produced 87,630 ounces of gold in 2010 and aims to ramp up production to 200,000 ounces per year by 2012 through expanding its open pit and underground mining operations and milling facilities. Avion has a large land package with exploration potential and has acquired additional properties containing over 3 million ounces of gold resources to date.
Avion Gold is a growing gold producer in West Africa with operations in Mali. It produced 87,630 ounces of gold in 2010 and aims to ramp up production to 200,000 ounces per year by 2012 through expanding its open pit and underground mining operations and milling facilities. Avion has a large land package with exploration potential and targets increasing its resource base, which currently contains over 3 million ounces of gold.
1) Company Presentation from January 2011 for a new gold producer in Mali, West Africa called Avion Gold.
2) Avion Gold is ramping up production from 86,600 ounces in 2010 to 200,000 ounces by 2012 through expanding its resource base with exploration and declining costs.
3) Avion Gold has acquired additional gold concessions in Mali that have increased its December 2010 resource base to over 2 million ounces of gold.
Avion Gold Corporation is a growing gold producer in West Africa with exploration upside. The company produced over 91,000 ounces of gold in 2011 from its Tabakoto mine in Mali and forecasts production of 90,000 to 100,000 ounces in 2012. Avion also has exploration projects in Mali and Burkina Faso that could further increase its gold production.
This document provides an overview of Avion Gold, a growing gold producer in West Africa. Key points include:
- Avion has increased production from 51,000 ounces in 2009 to 87,660 ounces in 2010 and plans to ramp up to 200,000 ounces per year by 2012 across its properties in Mali and Burkina Faso.
- Avion has a large exploration package of over 500km2 that is still 75% unexplored and aims to increase its resource base from the current 1.3M ounces of M&I and 2.1M ounces of inferred resources.
- Avion has consolidated assets purchased for less than $0.20 per dollar between 2008-2010 and has a
Avion Gold Corporation is a gold mining company with operations in Mali, West Africa. It produced 51,000 ounces of gold in 2009 and is projecting production of 75,000-85,000 ounces in 2010. The company has a large land package in Mali totaling over 500 square kilometers that contains a current NI 43-101 compliant resource of over 3.65 million ounces of gold. Avion plans to ramp up production to 200,000 ounces per year by 2012 through mine expansions and exploration drilling. The company trades on the TSX Venture Exchange under the symbol AVR.
Avion Gold Corporation is a new gold producer in West Africa with exploration upside. The company acquired over $100 million in assets including an operating mill and mining infrastructure for less than $0.20 on the dollar. Avion has achieved production of over 35,000 ounces of gold in 2009 at a cash cost below $540 per ounce. The company has a large land position with exploration potential and targets increasing production to over 200,000 ounces per year through reserve and resource expansion and potential mill upgrades. Avion is led by an experienced board of directors and management team with a track record of building successful mining companies.
QMX Gold Corporation owns the Snow Lake Mine and Lac Herbin Mine gold properties in Manitoba and Quebec, Canada. A 2010 feasibility study outlined plans to restart production at Snow Lake Mine based on proven and probable reserves of 451,900 ounces of gold over a 5-year mine life. A recent internal review identified potential changes to the feasibility study assumptions that could increase cash costs to US$825 per ounce from the original estimate of US$640 per ounce.
Alacer Gold aims to increase gold production from 400,000 ounces in 2011 to 800,000 ounces in 2015 through expanding operations at four mines across Australia and Turkey. This includes growing production at the Çöpler Gold Mine in Turkey from 135,000 ounces from the oxide operation in 2011 to over 220,000 ounces once the sulfide plant is online in 2015. A pre-feasibility study has outlined a project with a 25% IRR and $739 million in net cash flow over a mine life extended to 16 years through developing the sulfide resource below the existing oxide operation.
- Avion Gold is a gold mining company focused on West Africa with assets in Mali.
- In 2009, Avion produced 51,000 ounces of gold and estimates production will increase to 75-85,000 ounces in 2010 and ramp up to 200,000 ounces by 2012.
- Avion's resource base includes over 14 million ounces of measured and indicated gold resources and over 15 million ounces of inferred gold resources across its properties in Mali.
The company presentation summarizes Avion Gold Corporation, a new gold producer in West Africa. Key points include:
1) Avion has acquired and commenced production at the Segala gold mine in Mali, targeting 55,000 ounces of gold production in 2009.
2) The company intends to expand production to 200,000 ounces annually by 2011 through developing its large land package in Mali.
3) Avion has assembled a significant asset base in Mali for less than $0.20 on the dollar, including an operating mill and infrastructure.
QMX Gold Corporation owns the Snow Lake gold mine and Lac Herbin gold mine. A feasibility study for the Snow Lake mine outlined an after-tax IRR of 79% and payback period of 1.7 years producing an average of 83,000 ounces of gold per year over a 5 year mine life. QMX also announced a planned $45 million debt facility to finance the Snow Lake project with an interest rate of LIBOR + 5.5% before commercial production. Mineral reserves for Snow Lake are estimated at 451,900 ounces of gold and resources are estimated at 728,000 ounces measured and indicated and 336,700 ounces inferred.
- QMX Gold Corporation owns the Snow Lake Mine gold production and exploration property located in Manitoba's Snow Lake mining district.
- A 2010 feasibility study outlined average annual gold production of 83,000 ounces over a 5-year mine life at cash costs of US$640/ounce.
- A recent internal review identified potential changes that could increase cash costs to US$825/ounce, including expanding the man-camp and operating equipment via leases rather than purchases.
Avion Gold Corporation is a gold producer in Mali, West Africa with growing production. In 2009 it produced 51,000 ounces of gold and estimates production of 75,000-85,000 ounces in 2010. It aims to ramp up production to 200,000 ounces per year by 2012 through mine expansions and exploration. Avion has acquired several properties with over 3 million ounces of gold resources. It is significantly undervalued compared to peers based on cash flow and asset value multiples and has an experienced management team and board to continue growing production and resources in the region.
Similar to Avion Corporate Presentation 2012-04-23 (20)
UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
Bienestar Financiero al servicio de su jubilación anticipada
Pago de su 🏡
Estudio de sus hijos
Directamente a tu cuenta bancaria
Con Tesorería Auditoria Jurídica comercial
Administración de carteras
Apalancamiento Financiero
Desarrollo de tu marca personal
Acceso a Desarrollo de varias industrias
Cuentas bancarias
Estructuras Físicas en USA y en América Central
Avalado por Bolcomer
Puesto de Bolsa Comercial
Turismo
Y mucho más
Link de registro
https://business.myinfinity.global/maurod8/
https://therusnetwork.com/
Contacto:
https://goo.su/pzm1fja
Cadre Direct Access Fund II - Institutional Investor Teaser Q1 2024.pdf
Avion Corporate Presentation 2012-04-23
1. A Growing Gold Producer in West
Africa with Exploration Upside
TSX: AVR
OTCQX: AVGCF April 2012
2. Forward Looking Statement
This presentation of Avion Gold Corporation (the ”Company”) contains forward-looking statements under Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect to the development potential and timetable of the projects; the Company’s ability to raise
additional funds as necessary; the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the
realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital
and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations;
and environmental risks. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does
not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such
words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-
looking statements are based on the opinions and estimates of management as of the date such statements are made. Estimates regarding the anticipated
timing, amount and cost of mining at the Mali projects are based on assumptions underlying mineral resource estimates and the realization of such estimates;
results of previous mining activities at the projects, and detailed research and analysis completed by independent consultants and management of the
Company; research and estimates regarding the timing of delivery for long-lead items; knowledge regarding the factors involved in building a mine and other
factors described in the annual information form of the Company. Capital and operating cost estimates are based on results of previous mining activities,
research of the Company and independent consultants, recent estimates of construction and mining costs and other factors that are set out in the scoping
study. Production estimates are based on mine plans and production schedules, which have been developed by the Company’s personnel and independent
consultants. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including
but not limited to risks related to: timing and availability of external financing on acceptable terms; unexpected events and delays during construction,
expansion and start-up; variations in ore grade and recovery rates; receipt and revocation of government approvals; actual results of exploration and mining
activities; changes in project parameters as plans continue to be refined; future prices of gold; failure of plant, equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the mining industry. Although management of the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does
not undertake to update any forward-looking statements except in accordance with applicable securities laws.
Investors are advised that National Instrument NI 43-101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral
resources be reported separately. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
The Company uses the term “cash costs” in this presentation. Cash costs is a non-GAAP figure. Please see the Company’s Management Discussion & Analysis
for an explanation of this figure and the associated uncertainty.
Andrew Bradfield, P.Eng., the Chief Operations Officer and Don Dudek, P.Geo., the Senior Vice President, Exploration, of the Company and are “qualified
persons” under National Instrument 43-101 and have reviewed and approved the scientific and technical information contained in this news release.
Cautionary Note to U.S. Investors Concerning Estimates of Measured, Indicated or Inferred Resources
The information presented uses the terms “measured”, “indicated” and “inferred” mineral resources. United States investors are advised that while such terms
are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize these terms. “Inferred mineral
resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of
an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of
feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will
ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is
economically or legally mineable.
TSX: AVR 2
3. Avion Properties –West African Focus
Coup Update
Constitutional Law reinstated
April 8th
Interim Gov’t appointed with
elections in ~40 days
Borders re-opened, fuel and
supplies starting to arrive at
site
Production continues at
Tabakoto
Expect a significant positive
valuation change as the
perception of country risk
reduces after coup TSX: AVR 3
4. Investment Highlights
Profitable Production
Tabakoto underground exceeding expectations
Mill capacity doubling in progress – more ounces in
future
New sources of ore for the Tabakoto Mill
Hounde PEA in progress with H2 delivery of report
expected
Continued Exploration success
TSX: AVR 4
5. Valuation Bump-up from a Production
Increase to 200,000 oz rate
6,000
5,500
Market Capitalization (US$mm)
5,000
4,500 NGD
4,000
3,500
AVERAGE
3,000 ANV
2,500 EGU AUQ
AGI
2,000
BTO
1,500 MFL
SMF
1,000 KGI Avion Gold 200,000 oz P roduction)
ARZ
500 AVM EDV
SGR TGZ GSC
Avion Gold
0
0 100 200 300 400 500 600
2012 Production (000's oz Au)
TSX: AVR 5
6. Mali: Africa’s Third Largest Gold Producer
*See Appendix for details of mineral reserve and resource
estimates
TSX: AVR 6
7. Strong Assets
Global Resource Base
Updated – Corporate Mineral Resources*
Tonnes Grade Gold Ounces
(g/t Au)
Proven & Probable (Stock Pile/Open Pit)(1) 243,600
2,611,000 2.90
(1 to 2 g/t Au Cut-off) (167,6002)
Proven & Probable(Underground) 669,500
4,630,000 4.50
(2 g/t Au Cut-off) (654,2002)
Measured & Indicated
21,238,000 2.21 1,510,000
(0.5 to 2 g/t Au Cut-off)
Inferred
30,186,000 2.47 2,411,000
(0.5 to 2 g/t Au Cut-off)
(1) Includes stockpile of 1,207,300 tonnes grading 1.53 g/t Au containing 59,600 ozs as of January 1, 2011
• The resource study was prepared by Eugene Puritch, P.Eng. and Antoine Yassa, P. Geo of P&E Mining Consultants Inc. who are qualified persons under NI 43-101. Note
that open pit mineral resources were calculated at a cut-off of 0.5 and 1.0 g/t Au and underground mineral resources were calculated using a 2.0 g/t cut-off.
• Estimates include 93.75% of Kofi Project resources to reflect ownership
• Resource updated to include estimated mining drawdown, Great Quest Acquisition, Kofi Project and Hounde’s Vindaloo zone.
(2) Number in brackets indicates estimated reserve drawdown from 2011 production. Tonnes and grade numbers will be adjusted once reserves are updated by the end of Q2.
(3) Mineral resources that are not mineral reserves do not have demonstrated economic viability
TSX: AVR 7
8. Project Resource Base Growth
3,000,000
Acquistions 87% average total
resource growth year
Production over year
Reserves
2,000,000 M&I
Inferred
1,000,000
-
2008 2009 2010 2011
8
TSX: AVR
9. 2011 – 91,200 oz. Produced
2012 – 140,000-150,000 oz. (Forecasted pre-coup)
Gold Production at Tabakoto
30,000 $762/oz est. $900
2012
$800
25,000
$700
20,000 $600
$500
15,000 Oz. Produced
$400
Cost/Oz.
10,000 $300
$200
5,000
$100
- $-
Q1-11 Q2-11 Q3-11 Q4-11 Q1-12
TSX: AVR 9
10. Avion Production to Date
4,000 tpd run-
Growing Production
200,000
rate target in
2013
150,000 Average mined
grade to date of
3.61 g/t Au
100,000
Average
50,000
recovery 95.5%
Avion produced
0 256,378 ozs to
2009 2010 2011 2012*
date
* Estimated 2012 production from 140,000-150,000 ounces
TSX: AVR 10
11. - Mali
Gold Production Growth - Burkina Faso
300,000
*
200,000
*
Kofi
Open PIt
Segala UG
100,000 Taba UG
0
2011 2012 2013 2014 2015 2016-21
*Does not include Houndé Production
Tabakoto and Segala deposit mine schedules from 2011 to 2014 are based on Avion’s NI43-101 technical report on Tabakoto Mining Operations, issued
on August 17, 2011, and filed on SEDAR. For subsequent years, and for projections of the Kofi and Houndé deposits, Inferred Mineral Resources have
been included, and the plan is based on an in-house study by Avion.
Production growth assumes 100% of project, adding incremental feed to the Tabakoto mill and that African Barrick does not exercise their back-in right
for the Houndé Project
TSX: AVR 11
12. 4,000 tpd Run-Rate in H2 - 2012
2012
Anticipated project milestones
Q1 Q2 Q3 Q4
60,000 metre exploration program
Tabakoto underground stoping
Issue updated resource and reserve reports
Start new open pit mine at Djambaye II
Segala underground development
Plant expansion construction
Hot and Cold commissioning of new Mill
Production doubling to 4,000 tonnes per day
Houndé resource update & P.E.A. report
TSX: AVR 12
14. Recent Tabakoto Underground Development
Tabakoto Pit Tabakoto Underground Development
Tabakoto Underground
TSX: AVR 14
15. Underground Process
Stoping started February 9, 2012
March UG production
Produced 17% more tonnes than planned
42% more ounces than planned
Approximately 1 g/t higher in grade than forecast
Dilution is less than expected and grades slightly
higher
TSX: AVR 15
16. Tabakoto & Kofi - Mali Kofi Resource
Doubled in 2011
Target-Rich Mining Camp (~600
km2)
2011 discovery cost overall
~$6.6/oz Inf
~$23.5/oz Ind
Exploration Program of ~$11.4
Million for 2012 (all properties)
Total Corp. (Tabakoto + Kofi +
Hounde) Resource of:
P&P Res: 0.91 M ozs (Jan.1, 2011)
M&I: 1.5 M ozs*
Inf: 2.4 M ozs*
* At 0.5 to 2.0 g/t cut-offs
TSX: AVR 16
17. Houndé – Burkina Faso
Excellent Resource Expansion
Potential <5% of property evaluated
Current Resource of:
Ind: 893,000 ozs
Inf: 712,000 ozs
Vindaloo resource strike ~2.6 km,
mineralized trend ~ 5.7 km open,
target 15+ km long
Preliminary Economic Assessment
initiated for completion Q3/Q4 2012
$8.0 Million Exploration program for
2012
TSX: AVR 17
18. Opportunity Summary
Mali - Short term production doubling supported by
two high quality project assets in 20 million ounce
plus mining camp
Burkina Faso - Expanding 2+ g/t Au open pit
resource base with great logistics
3 km from paved highway
1.5 km from high tension power line
Nearby community and work force
TSX: AVR 18
19. Capital Structure
Exchange: TSX
Ticker: AVR
Shares Outstanding – basic: 441.1 million
Fully diluted: 466.0 million
52-Week High/Low: $2.57 - $0.78
Recent Price (April 23, 2012): $0.82
Market Capitalization: ~$362 million
2011 Year End Cash Balance: $20 million
TSX: AVR 19
20. Undervalued Compared to Peers
Avion is undervalued relative to producing peer group
based on a price to earnings and cash flow multiples
Source: NBF Estimates, Bloomberg, Thomson (April 9, 2012)
TSX: AVR 20
21. Avion Gold Corporation
MAJOR SHAREHOLDERS
Sentry Investments ~15% RBC Asset Management ~2%
Sprott Asset Management ~13% Management & Directors ~2%
Fidelity Asset Management ~12% AGF Asset Management ~1%
Maple Leaf Partners ~8% Altamira Asset Management ~1%
Van Eck Jr Gold ETF ~5% BlackRock Asset Management ~1%
Carmignac Gestion ~3% IA Clarington Investments ~1%
Regent Pacific ~3% PI Financial Corp ~1%
Craton Capital ~2% TD Asset Management ~1%
Oppenheimerfunds ~2% Summary of other positions ~7%
at less than 1%
TSX: AVR 21
22. Independent Research and Media Coverage
Independent Research – Full Coverage
Firm Analyst
BMO Capital Markets Andrew Breichmanas
Canaccord Genuity Steven Butler
Cormark Securities Mike Kozak
Mackie Research Capital Barry Allen
NB Financial Tara Hassan
Independent Research – Research Notes
Firm Analyst
Desjardins Securities Brian Christie
PI Financial Eric Zaunscherb
Media Coverage
Firm
Casey Research
Gecko Research
TSX: AVR 22
23. Experienced Management Team & Board
MANAGEMENT
John Begeman, President, Chief Executive Officer and Director
Don Dudek, Senior Vice President Exploration
Alex Dann, Chief Financial Officer
Andrew Bradfield, Chief Operating Officer
Neil Said, Legal Corporate Counsel
BOARD OF DIRECTORS
James Coleman–Independent Chairman
John Begeman
Stan Bharti
George Faught
Bruce Humphrey
Lewis Mackenzie, Major General (Ret.)
Honourable Pierre Pettigrew, P.C.
TSX: AVR 23
24. Avion Gold Corporation
Segala Pit
Contacts: Address:
John Begeman 65 Queen Street West, Suite 800
President & CEO PO Box 67
Tel: (416) 861-5884 Toronto, ON M5H 2M5
jbegeman@aviongoldcorp.com
Website: www.aviongoldcorp.com
Michael McAllister
Manager, Investor Relations Follow us:
Tel: (416) 309-2134
info@aviongoldcorp.com
TSX: AVR 24
26. Strong Assets
Global Resource Base
Tabakoto Kofi (93.75% ownership) Houndé Avion
Tonnes Grade Oz Au Tonnes Grade Oz Au Tonnes Grade Oz Au Total (Ozs)
P&P*
2,611,000 2.90 243,600 243,600
(OP + SP)(1)
P&P*
4,630,000 4.50 669,500 669,500
(UG)
M&I 1,359,000 3.41 149,100 6,469,125 2.25 468,375 13,410,000 2.07 893,000 1,510,475
Inferred 7,892,500 4.10 1,040,600 11,583,750 1.77 658,125 10,710,000 2.07 715,000 2,413,725
(1) Effective reserve date of January 1, 2011. Update planned for mid Q2, 2012
(2) Includes stockpile of 1,207,300 tonnes grading 1.53 g/t Au containing 59,600 ozs as of January 1, 2011
• The resource study was prepared by Eugene Puritch, P.Eng. and Antoine Yassa, P. Geo of P&E Mining Consultants Inc. who are qualified persons under NI 43-101. Note that open
pit mineral resources were calculated at a cut-off of 0.5 and 1.0 g/t Au and underground mineral resources were calculated using a 2.0 g/t cut-off.
(3) Andrew Bradfield, P.Eng. and Don Dudek, P.Geo., Senior Officers of Avion and “qualified persons”, as such term is defined under NI 43-101, are responsible for the Mineral Reserve
estimates.
(4) The Mineral Reserves were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and
Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council.
(3) The Inferred Resources are in addition to the Measured and Indicated Resources.
(4) The Mineral Reserves have been classified in accordance with the requirements of National Instrument 43-101 based on a gold price of US$1,183 per ounce and a 94% process plant
recovery rate.
(5) Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
(6) “UG” stands for underground , “OP” stands for open pit and “SP” stands for stock pile
(7) For a full description of the key parameters, assumptions and methods used to estimate the above Mineral Reserves and a discussion of the legal, political and environmental risks
that may have an impact on those estimates, refer to the Reserves Report.
TSX: AVR 26
27. Call Options Explanation
Avion sold 12 European style call options exercisable over 12 quarters (1st option
June 1, 2012 - 12th option March 1, 2015) for $25MM upfront cash for a total of
36,396 ounces ($687/ounce)
Each option allows the institution to purchase 3,033 ounces of gold at a set price.
The first 4 options are priced at $700, the remaining 8 options are priced at $900
If the call option is exercised on the specific date, Avion will remit to the
institution, the difference between the LME gold price and the price of the option
Quarterly Option Calculation example: on June 1, 2013, if the gold price is $1,650,
Avion will remit $2.27MM to the institution (3,033 ozs * ($1,650 - $900) ) and
retain $2.73MM (3,033ozs * $900 ). Total amount to Avion for those 3,033 ounces
in the call option would be $1,587 per ounce ($687 upfront + $900 option)
For example, at a $1,650 gold price, each ounce sold equates to roughly $1,520 for
Avion (undiscounted).
TSX: AVR 27