Short Term Trading Week Starting: 22 Oct, page-99

STTCOMP AIS FA long

MC $115M
SOI 642M [fully diluted]
Debt A$40M
Cash A$16M
SP~18 cents

AIS recently completed a CR @ 20 cents [raised A$35M] to fund the Torrens drilling campaign and pay down debt. SP has been trading below the CR price for a couple of weeks and found good support @17 cents. The sell-off seems to have weakened and the SP appears to be on a recovery. Should at least get back to 20 cents soon. The Torrens project starts drilling late December so the next few weeks should see some buying interest develop.
AIS is a copper miner in NSW currently producing about 24kt Cu at an AISC of A$3.41/lb which makes it marginally profitable [by my numbers about 15 cents/lb profit]. The main interest in the company is its 70% ownership of the Torrens project in SA.