Loan Funding V Equity issue pros & Cons, page-71

bretto50,
Here are extracts from recent announcements 4th July Bonanza Grades Coarse Native Copper 99.65% ; Massive chalcocite boulders 79.9% Cuprite 88.8% Among the highest grade supergene copper ores known to exist co-mingled in Central Las Minerale Bonanza Zone.
Extremely rich supergene zone unique to Rocklands [ Central Las Minerale ] reveals some of the world's highest grade copper ores known to exist- with many museum specimen quality samples being recovered.
All evidence at Rocklands to date suggest significant underestimation of copper grade during sampling and assay when coarse native copper is present.
Mining of the supergene zone appears to support the company's long held view that copper grades are underestimated in the coarse native copper and chalcocite zones, based on twin hole programmes that compared native copper recovery in RC and diamond drilling ,and in separate twin-hole programme that also compared chalcocite recoveries for each drilling method.
Extract from 15th July announcement Cudeco is developing one of the most significant copper discoveries in Australia in recent decades. The Rocklands deposit is dominated by primary copper mineralisation, however the first 10 years of production will treat large zones of supergene enriched ore including expansive zones of coarse native copper.
The high-grade supergene zone includes a unique coarse native copper zone that commences from near. surface. Some of the most spectacular grades occur between 50-80 metres below surface where the current LM1 pit is about to mine.
Extract from 29th July announcement Remaining at that date in the no 1 pit was 186,060 tonnes at 4.87 % Cu EQ Copper 3.51% Co ppm 795 Au ppm 0.53 Mgt 5.03%.
The base of the pit resembles a copper museum with some of the most exciting high grade ore and mix of unique copper species I have seen in my 35+ years in mining.
Extract from the 31st July announcement The LM1 pit is currently at RL 170m or some 45 m below surface and immediately above the area referred to by the company as the "bonanza zone "--- it is characterised by high grade coarse native copper and coexisting chalcocite [ native copper contains 99.65 % copper metal, chalcocite contains 79.9 % copper metal.
The supergene zone in Las Minerale is without doubt unique in modern day mining and will provide sufficiently high grades to generate direct shipping ore DSO product.
Brett The next announcement should give us an indication of what the bonanza zone has bearing in mind that the company has said that grades are increasing with depth.