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When AZS bought Oposura [from memory] they paid $1.5M plus a royalty on production... at that time another project not too far away which was comparable changed hands for $15M. Personally, I am not convinced about the value of AZS proceeding to mine Oposura... but it is still early days. Things like off-take agreements can radically change things. In any case I think $15M is about the market value for Oposura and it would be an easy sale.

Alacran... AZS started thinking about a mine plan for it and then Teck stepped back in. When I last spoke to the Co [about 18 months ago] they had 2 scenarios... a heap leach [capex $15m] or a mill [capex $30M]. If Teck withdraws, worst case scenario for Alacran is AZS self funding a heap leach which would require a relatively small CR with a quick pay-back.