Significant Cash Position Will grow Substantially in 2021At exit 2020, ATY had $16,5 million US in Cash.
In 2020, with an average realized price of copper on provisional invoicing of $2.87 per pound, It added $9.5 million US in cash to the balance sheet.
This, with over $9 million US in drilling costs for our new project.
At $4.50 US copper and the same AISC of $1.53 per pound in 2021, ATY will produce Approx $32 million US in additional free cash flows for a total free cash flow to the balance sheet of $9.5 m + $32 m = $41.5 million US.
This extra free cash will pay off our convertible debt of $10 million US, which means that $31.5 million US will be added to our cash hoard, bringing total cash position at exit 2021 to $16.5 m + $31.5 m = $48 million US which is about $0.60 per share in CAD.
And debt free...
Which means that we are now getting the entire company for about $0.10 on the dollar.
Such opportune occasions make astute investors very rich..