Recall that for Seeking Alpha’s “best idea for 2016” contest we entered our thesis on Avnel Gold (TSX: AVK) (AVNZF). Due to exclusivity rules we can’t reprint it at miningWEALTH, although it is a name that we’ve covered here and that we’ve covered on Seeking Alpha for nearly two years now. We wanted to update our analysis of Avnel Gold based on two developments. The first is a rising gold price. Gold currently trades at ~$1,250/oz., yet when we published the article in late December gold traded below $1,100/oz. We used $1,075 in our assessment of the company’s economics. Second, we assumed a gold recovery rate of 93%. The company just put out a press release in which it shows that it will achieve higher recoveries, as outlined on the following table. We’ve updated our numbers to reflect these changes. We’ve assumed a $1,250/oz. gold price, 94.5% recoveries for the
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