Ann: September 2015 Quarterly Activities Report, page-15

Here are various scenario going forward. Appreciation in cu prices and reducing AISC will have a significant impact on TGS earning (assumed 10% interest rate for both short and long term debt). If cu prices hit 3.00 per pound, debt can be repaid in less than 2 years at a production rate of 32,5000 ton per year.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8
0	Production	Cu Price	AISC	NP / Pound	EBITDA	Debt	Interest - 10%	Profit after Interst
1	25,000	2.30	1.57	0.73	40,150,000	167,000,000	16,700,000	23,450,000.00
2	25,000	2.40	1.57	0.83	45,650,000	167,000,000	16,700,000	28,950,000.00
3	25,000	2.50	1.57	0.93	51,150,000	167,000,000	16,700,000	34,450,000.00
4	28,500	2.30	1.57	0.73	45,771,000	167,000,000	16,700,000	29,071,000.00
5	28,500	2.40	1.57	0.83	52,041,000	167,000,000	16,700,000	35,341,000.00
6	28,500	2.50	1.57	0.93	58,311,000	167,000,000	16,700,000	41,611,000.00
7	32,500	2.30	1.57	0.73	52,195,000	167,000,000	16,700,000	35,495,000.00
8	32,500	2.40	1.57	0.83	59,345,000	167,000,000	16,700,000	42,645,000.00
9	32,500	2.50	1.57	0.93	66,495,000	167,000,000	16,700,000	49,795,000.00
10	32,500	2.60	1.57	1.03	73,645,000	167,000,000	16,700,000	56,945,000.00
11	32,500	2.80	1.57	1.23	87,945,000	167,000,000	16,700,000	71,245,000.00
12	32,500	3.00	1.57	1.43	102,245,000	167,000,000	16,700,000	85,545,000.00