scoping study out, page-16

betrade,et all,

I have had another read of the announcement, and all I can say that I am even more confused than what I was before.

Unless I missed something, all the figures regarding the gross revenues before the mining tax and even after the tax has been deducted (i.e. approximately $412million dollars) are the total gross revenues for the whole of the opearation before operating costs have been deducted.
You can multiply the total of the copper and other mineral resources by the price they have supplied/quoted, and you will see what I mean.

Even the $36million dollars they expect from profits, (and that is before any Company tax liabilities have been met) do not clearly specify that they are either for the whole of the operation, or annual profits. SO WE WILL HAVE TO GUESS, and of course make/derive our own conclusions.

IMHO, unless I missed soemthing, it is a very poorly prepared report. It should clearly states what the total expenditure, or yearly expenditure is, and also clearly state if the profits listed are for the whole of the operation or derived/earned on a yearly basis.

IMO it is no wonder at all, that the market has responded in a contrary way.

But, when I will have more time I will try to have another go and figure it out, if it is at all possible.

One thing is for sure though, if and when the sp will reach my re-entry price, I will leave it for good. As someone wrote in another thread, (David25 I believe), I agree that the Management IMHO haven't got a clue, nor would they be able to organize the mining side of the business.

Besides, and more importantly I have noticed that the report has been qualified by stating that the feasibility of the whole project is totally dependent on the future of the copper and minerals prices.

Cheers mate,

Buddy