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Stavely Minerals Ord Shs T.SVY


Primary Symbol: STVMF

Stavely Minerals Limited is an Australia-based mineral exploration company. The Company is focused on the exploring for copper, gold and silver at the Stavely and Ararat Projects in western Victoria, and nickel, copper and cobalt at the Hawkstone Project in west Kimberley, in northern Western Australia. The Stavely Project, covering an area of approximately 1,000 square kilometers (km2) over the prospective Stavely Volcanic Belt in western Victoria, includes a 100% owned retention license RL2017, 100% owned exploration licenses EL6870, EL7347, EL7921, EL7922, EL7923 and EL7924 and the Black Range Joint Venture license EL5425. The Ararat Project comprises a retention license, RL2020, covering an area of approximately 26km2. The Ararat Project is located on part of the western margin of the Stawell-Bendigo Zone, which is part of the western Lachlan Fold Belt. Hawkstone Project covers an area of 1,100km2 over prospective stratigraphy in the west Kimberley, in northern Western Australia.


OTCPK:STVMF - Post by User

Post by Blaser2on Jan 14, 2014 7:34am
257 Views
Post# 22087849

CIBC Take on New Contracts

CIBC Take on New Contracts
Savanna announced a $25 million increase to its 2014 capital program with
the incremental spend being used to fund the construction of one new drilling rig for North America and three new flush-by units for Australia.The total 2014 capital program is now expected to be ~$170 million.
The new build drilling rig is an AC electric heavy double capable of drilling tovertical depths of >4,000 meters. Although not disclosed in the pressrelease, we believe the rig will be deployed in Canada for an existing customer and will be supported by a three-year take-or-pay contract.
The three new flush-by units that will be deployed in Australia are self-contained service units, which integrate the features of a pressure truck and a small rod rig. The units will be supported by a long-term contract and webelieve are a natural extension of its well servicing offering in the country.
Overall, we view the increased budget positively and believe the contracts highlight continuing momentum in North America and Australia. The net impact is a modest ~1% bump in our 2014 estimates with the bulk of the contribution to be realized in 2015. We maintain our SO rating & $9.50 PT
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