From the announcement:
Information available from the first drill program and assay results indicate mineralisation in the order of 4 million tonnes grading 1.2% total copper in the sulphide zone, and a further 0.2 million tonnes of oxide / mixed material at a grade of 0.8% copper.
These results are yet to be included in the Tamaya Group’s current JORC Resource /Reserve statement, and the Group anticipates the potential for a substantial improvement in
the Copper inventory for Chile in the near future as a result of the discovery.
I am not an expert on how to quantify this into $, but 4million with 1.2% copper is a lot of copper, like 40,000 tonnes of copper (if you just do the simple maths)
That's 44000 tons @ 2,000 pounds per ton comes near 88 million pounds of copper. Current price at $3.17 per pound, you go figure....
Please do your own research. And correct me if I am not right about above. It's a big addition to current market capitalisation to this company.
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- everyone digested the size of the announcement
everyone digested the size of the announcement, page-5
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