sgnificant copper find?, page-23

Regarding MNC, their mineral resource for open pit mining is 274 million tonnes at 0.3% Cu, and goes to 500 metres. They would follow this with a proposed bulk underground mine for 1,068 millon tonnes 0.51% Cu below 500 meters.

ARE are only drilling to 300 metres and Cu grades seem to increase with depth. ARE resource is open at depth and in both directions along strike. There is considerable upside here with further investigation following the JORC resource we will be getting before end of March.

If MNC believe they have a viable and economic mining operation then ARE should be significantly more economic given their shallower resource.