more high grade copper news out!, page-29

Yes, like you I think that's a great pick-up DDzx. Someone obviously capitulating.

It's sad, because the way ahead for the Company is clear enough. This from last month's Breakaway Research Report (p.5):


Potential for early Development - Possible heap leach operation to provide development cashflow

Reports completed by the Soviets in the 70’s and field work undertaken by Great Western indicate that at least four of the prospects are mineralised from the surface and appear to be deeply oxidised. In some cases the depth of oxidation has been interpreted to be greater than 100m which may make those sites amenable to a heap leach operation with low strip ratios.

Although it is too early to define hard production targets, this scenario is favourable due to significantly lower capital costs and a shorter time frame to reach production.

Breakaway anticipate GTE will initially target smaller high grade deposits (~20Mt @ ~2.0% Cu) to position the company as a high margin operation in the early stages of development. Once sustainable cash flow has been established, the company is more likely to assess the economic potential of a larger tonnage, lower grade operation.