Bdell. No, we need apples and apples.
But first I did make small error, in sum paid. So HudBay in fact paid about 9.8 Usc/lb copper equivalent for Norsemont, not 7.6 US cents. Here are the Norsemont "metrics". Total resources are 441mt (Meas and Indicated 392mt and Inferred 48mt), at 0.41% Cu and 107ppm Mo, or 0.47% CuEq. Allowing for small Au and Ag the Cu equiv grade from Norsemont is say 0.54% Cu. May be a little Au and Ag in Calatos too? This makes 5.24b lb Cu equiv in resources. For which Hudbay paid say US$515m. Makes 9.8 US c/lb.
valuation based on recent news, page-6
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