Ann: Havilah's Copper Strategy - Enhanced by Cobalt, page-158

FWIW, an indication of what Au assets are fetching:



Key distinction is that the acquired mine is producing.

Some metrics from NST releases:

Acquisition  price equates  to  US$63 [$A86] per  ounce (based  on  US$260M [A$356M] price and  Pogo’s non-JORC reserves and resources) [or 5.2% of ISV].

Pogo  has  a  non-JORC reserves  and  resources of  4.1Moz…This  includes reserves  of 760,000oz [resources 3,340,000oz].

In comparison, HAV has JORC resources of 3.2 Moz gold and reserves of 1.4 Moz gold.

For some reason, NST’s release adds Pogo’s resources and reserves in performing its US$/oz calculation. Using just Pogo's resources, the metric becomes US$78/oz [A$107/oz] or 6.5% of ISV.

Anyway as you can see, the Au numbers are similar except HAV has almost twice the number of Au reserves.

Plus HAV has Cu-Co-Fe-Mo JORC resources and exploration upside.

DYOR