xstrata walk, page-27

Folks no more post about Xstrata walking.

Xstrata bought CCP for $175mil
CCP
Contained copper 472,000T
at 0.85% works to be $0.169 per lb.
Gold 394,000oz

Measured 80,000t
Indciated 246,000t
Inferred 146,000t

Roseby
Contained copper 1,472,000T 0.58%
Gold 367,000oz

Measured 410,000t
Indicated 442,000t
Inferred 672,000t

Assume Xstrata pays half the CCP lb rate ($0.169) = $0.084, then imo 100% Roseby is worth at least $270mil, 51% is worth $137.7mil.

$137.7mil = approx $0.26 per share.

Will Xstrata walk???? If they did then this would represent bad business on their part.

For an extra $100mil to which they paid for CCP they will gain an additional 1mil tonnes of copper, let alone any future upgrades.

If they walked away then we all should walk away from ALL MINING STOCKS, as there is no value being here.