lets get this straight, page-14

danube,

you should try and compare bmn with a cu/au player with merit rather than the png explorers with challenges beyond even our comfort levels.

here is pna's feasibility study results.

note they have $45 of product per tonne.

$45 per tonne hasn't harmed pna. they are producing within the next 4-6 weeks and have a market cap of $1.6 billion and growing.

with plenty of room for uranium to visit its highs i think bmn are well placed to have inexcess of $60 of product per tonne towards mid year and a very robust project.

Mineral Resource 192Mt at 0.62% copper, 0.24g/t gold (0.3% cut-off)

Ore Reserve 144Mt at 0.56% copper, 0.25g/t gold

Strip Ratio 0.6

Annual Concentrate Specification 207,000dmt @ 25% copper, 7g/t gold and 65g/t silver

Annual Production Average 52,000t copper, 47,000oz gold and ~400,000oz silver

Mine Life +12 yrs

Development Capital US$232M

Mine Site Cash Operating Cost2 US¢40/lb

Total Cash Operating Cost2 US¢74/lb