Yes, and the numbers used in the 2016 Gediktepe feasibility study assumed zinc at only US$1/lb (currently $1.36) and copper at US$2.75 (currently $3.10). I did a spreadsheet a few months back using the PFS production quantities and modelled a 15-20% increase in revenue due to the price uplift from zinc (using $1.30) and copper (using $3.00).
The revenue uplift occurs in the back half of the project as it is mainly associated with the sulfide production.
You'd have to think that Ardich oxides are worth at least as much as Cakmaktepe given the quality of the initial drill results.
AQG Price at posting:
$2.33 Sentiment: Buy Disclosure: Held
