high results cu, page-11

"Regardless of what the big companies are doing long term we are running out of cheap readily exploitable copper and so it makes sense for the majors with these mines to look for ready to go feeder ore"




I agree Strauss but Xstrata could have put in a take over bid for AOH at what they paid for Excos CCP project $175m and that would represent close to a 50% premium to 90 day VWAP.They could then on sell the Finland mine for say $50m and they get their hands on 250mt of ore feed containing 1.5mt of copper for Ernest Henry for only $120m.

AOH have done it all and have a BFS - they have done native tile , EIS and have the mining licence ( same as Exco ) I just cant see QMN getting the same bang for its buck with infill drilling as we are seeing for new discoveries like the SIR euphoria and nearlogy plays like MAT. --QMN are now in the orphan period - they have lost the early mover advantage - they blew that opportunity a few year's ago by failing to deliver on their promised time lines.

QMN are at the base of the yellow zone ( IMO )