Great announcement. I've been waiting for this one. I thought I'd do a little simple math to demonstrate the potential here. I'll be making some assumptions so if you disagree you can substitute your own assumptions. I'll convert to AUD.
I'll use the estimate from GeoFiji -
"CNB has at least 3 deposits that can be quickly converted to JORC resources to give it a real asset base. Duchess/Ivanhoe, Mt.Birnie and Nil Desperandum. I think 10,000,000t @ 2% Cu equivalent is not hard to imagine, more is possible (my back of the envelope calculations were higher but at a slightly lower grade)."
10,000,000t/2% = 200,000t of copper
Copper price today in $AUD is $13,043t.
200,000 x $13,043 = $2.6 Billion.
I have no idea what the AISC would be. The amount of gold we find with the copper could obviously reduce the AISC.
Copper prices have been predicted by some analysts to reach US$20,000 due to shortages and increased demand. This would double the worth of our reserves to over $5 Billion.
Even if we only have half the amount of copper that Geofigi believes "would be not hard to imagine" (100,000t), we are sitting on $1.3 - 2.5 Billion worth of copper. I wonder what will happen to the share price?? And this disregards Strelley.
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