copper confusion, page-156

Roh - The NCU is almost pure copper above 90% thats why it has a complete primary circuit at the front end of the main plant -

Anyone who believes 5% / 7 % for anymore than a couple of ton of ore is away with the fairies - if the whole 3mt each year had those gardes it would produce 150kt to 210kt of copper metal contained in concentrate.

Yes there will be some high grade sulphide ore possibly up to 20% grade - but the JORC says they have 30mt at 1.7% cu eq grade and even that isonly a resource estimate its not an ore reserve.

2% grade archives 60kt of copper in concentrate and makes Rocklands a very profitable mine in the first 4 or 5 years - 3% gets 90kt and thats around the number that what was hyped here on hot copper before the JORC came out and is in line with the company's initial EIS application.

the MPS estimate of $1 dividends uses the 4.5% NCU and 3% for the primary ore in the first 4 years.

Yes the company has been prudent in designing the plant for multiple different ore types and grades but to work on anything above 2% for the total 30mt 10 year mine life is foolish ( IMO )

hOOt