Ann: MAJOR COPPER GOLD DISCOVERY 41m @ 4.1% Cu Inc 9m @ 10.3% Cu, page-535

Great post Plough.

A lot of work to do before we can start wrapping some numbers around this but I like seeing these scenarios run on potentials project economics.

Using your assumptions this would give you a project pre-tax NPV at 8% of AUD $3,051billion. Or $7.63 per share (400mill on issue after project financing is complete).

If we double the Mining Reserves to 120MT and take a rudimentary doubling in Throughput to 10MY p/a, Capex and Net Cashflow's and this figure increases to a NPV 8% of $6.1billion or $15.26 per share (keeping the 400mill SOI assumption as a bigger resource will justify a higher share price and less dilution).

We are probably 12months away from a Maiden Resource Estimate but if the ore body is uniform the research houses will start putting out some early estimates as the drilling progress.