Lets see if WM knows more than you guys/girls. ie from 7/5 announcement.." ….As previously communicated to the market (see ASX announcement April 15th), after just a few weeks of mining, stockpiles are estimated to contain in excess of 5,000 tonnes of copper equivalent metal, valued at approximately $35 million at current copper prices.
Could anyone here who has actual knowledge on the subject and is not just trying to ramp help me with the following question??
If I am hypothetically a Chinese buyer who would like to get hold of these stockpiles that "contain" $35 million dollars worth of "copper equivalent metal", what do I have to pay for it? Won't I have to truck it to Townsville, load it on a ship, truck it again to my plant in China, process the material which NOW should leave me with $35 million worth of product. What is the going rate for material with say 3% Copper equivalent metal in it and am I right in assuming the stockpiles to be moved then weigh 166,666 tonnes? How many ships do I need??
From reading your post gjcl you seem to categorically state that the company will receive 35 million dollars for it. I would have thought less but as you have quoted the company and posted it in such a confident way I will bow to you on the subject.
CDU Price at posting:
$3.31 Sentiment: None Disclosure: Held
