I am not a mineral geologist but have some basic knowledge of geology so I try to search for the copper deposit system. Not sure if we are still in the leached cap like in this link: http://en.wikipedia.org/wiki/Porphyry_copper_deposit . The history of discover porphyry at OT took some time, from BHP to Rio, only when Rio drilled deep hole for porphyry http://www.turquoisehill.com/s/Oyu_Tolgoi.asp .
The announcement is clearly stated that they have all signs indication of an existing of porphyry within the system. I don't think we misread but market always over-reacts both ways. From my reading, porphyry is 1% Cu or so but vast amount of rock volume. OT is the same making it one of the largest copper mines.
VAL Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
