Anvil a hit

PERTH-BASED Anvil Mining has enjoyed a good run on the charts over summer, but this week soared appreciably within an hour of the release of a broker’s report.

Anvil has a world-class copper/silver project, Dikulushi, in the Democratic Republic of Congo, and even though the political risk could rise to the high end of the scale, a Chartpac Securities Limited financial model has valued the company at 62 cents, more than five times the 11.5 cent high on the day of the report’s release.

Dikulushi appears ripe to be advanced, with talk of finance secured during the week, following recent appointments of construction contractors and a project manager, and mining infrastructure purchases.

Chartpac has assigned the project a net present value of $A91.9 million and, even though the after-tax company share value of 62 cents has been tagged with a 65 per cent discount for political risk, this still leaves the modelled price at 21.7 cents.