Questions for CEO / Board, page-27

Unless they are actually selling copper I can’t see how the copper price would affect the share price as much as speculator volume and fundraising, at this stage getting copper out of the ground is still to be determined. Once fully de risked and rolling though would be a different story. At each stage of de risking the project the share price will probably reflect that progress.
unless something catastrophic happens Mike has said on numerous occasions that NWC plans to bring it into production. More resource or higher grades in my view won’t bump the price much.
I anticipate that getting the rest of the resource over from inferred % of resource to indicated should make a difference. Currently sitting at 24% Indicated.
raising the capital for production costs 201M US.
of course the copper price drives the profit but I am suggesting there is still a ways to go before there is a direct correlation between the copper price and this project which I believe is about to move from early stages as we wade through the JORC process, financing hurdles and permitting (due to be submitted in Q4). Once the mine has had final approval and production costs are in hand, the market confidence, marketing engine and copper price will play a vital role in floor price. At this stage, while new sites are potential mineralisation is exciting and the copper price is rising, those things don’t bring us as close to a dividend payment as de risking will.

data referred to in this opinion taken from June 2022 quarterly activities report.