robtv.com , page-8

re: rumour is they might sell u There is a good explanation of the possible U processing at the EQN mine in the latest RC Research report free at www.rcresearch.co.au.

The U mineralisation in the form of uraninite veinlets does have copper by-product, which gives a very low RCR estimated cash cost for the U of $US5.60/lb instead of $US11/lb before Cu by-product credits. RC Research thinks that half the copper can be recovered in the U circuit and most of the rest in the tailings treatment through the main Cu plant.

Of the total in-pit resource (Ind & Inf) of 6,200 t of U, there is also associated 77,700 t of Cu. (There is more U outside of the pit to make up to the overall total of 21.82 m lbs in case anyone is wondering).

I think that this is a great company in the making, and Zambia is quite good overall compared to other African countries.

Another copper play almost as big with lots of gold and silver that could give cash costs as low as $0.50/lb after by-product credits is Northern Peru Copper. This is one of Doug Casey's current "Best Buy" recommendations. MC is a puny $US90m or so and they are doing their PFS and just completed a preliminary economic assessment this week. NPV at $US2.00/lb is around $US1.8 billion. Production 150k t pa over 21 years so its pretty big.

As always, DYOR.