🕐13.07.12 - 07:27 Uhr

RESOURCE CAPITAL RESEARCH [RCR] - RCR COMPANY UPDATE: SUMATRA COPPER & GOLD(ASX:SUM) JULY 2012



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Resource Capital Research [RCR] 
http://www.rcresearch.com.au/


RCR Company Update: Sumatra Copper & Gold(ASX:SUM) July 2012

Resource Capital Research (RCR) has released an updated research report on Sumatra Copper & Gold plc (ASX:SUM)  for July 2012.

Key Points: 

  • Emerging Au/Ag producer in prolific Sumatra.

    Planned 2H13 production (40-45kozpa AuEq) at Tembang, 1moz Au/13moz Ag resource.

    Recoveries Au 90%, Ag 80%. 
  • Tembang PFS in 1Q12.

    DFS due 3Q12.
  • Two stage development proposed – a low Capex 5 year stage 1, with cashflow funding larger 5 year stage 2 development.
  • Experienced project team in place.

    Lessons learned from 1997-2000 operators to optimise planned plant.

    Existing infrastructure reduces start up costs.
  • Tembang was mined 1997-2000, but many unmined veins remain.

    Tandai high grade epithermal vein (1.4moz @ 15.4g/t) was mined by the Dutch.
  • Newcrest spending US$12m over 5 years for 70% of Tandai.

    SUM has discovered two new prospects.

    Drilling underway on Ulukau prospect.

    Results ~ 3Q12.
  • Low EV/resource ratio ~US$15/oz Au, well below peers.
  • Potential major re-rating of the stock based on a positive DFS and target US$350-450/oz mining costs.

Click here for full announcement

For further information, please contact:

 
Resource Capital Research
www.rcresearch.com.au or
+612 9252 9405 






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