2004, I have some pocket money invested in that one from the land of the Samba. I believe the deposit they have is an IOCG (Iron Ore Copper Gold) system.
Also don't get too caught up on those headline grabbing grades. They had a good result for sure but look past the grades and check the intervals as well.
At first glance 5.96% Copper and 2.80g/t Gold from 53.15m sounds fantastic but bear in mind that was only over a 27.7m interval. Still a nice result for them and their market cap reflects that.
When it come to Cu-Au porphyry deposits take a look at Grasberg - the biggest of all. According to this site Grasberg its proven and probable reserves amounts to 2.8 billion tonnes at 1.09% Cu, 0.96g/t Au and 3.87g/t Ag.
I recall seeing a more recent estimate of 2.7 billion at 1.0% Cu and 0.86g/t Au and 4.15 g/t Ag. That's after nearly 20 years of mining!
Most Aussie investors would look at the grades from Grasberg and dump the stock if they had the chance. What a dog - we've got richer grades at Kalgoorlie! :)
Anyway best of luck with your investments.
great day for news, page-59
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