Ann: Updated Briggs resource exceeds 1Mt contained copper, page-6

ALM guys are entitled to their view but seeing CBY still hold majority share of the project, I'm talking my own book here. Big resource but to call a 650m deep resource feasible is unreasonable.

CBY in latest preso noted Caravel (CVV.AX) as it's closest comparable for Briggs but CVV mine isn't a feasible project in today's environment, need to raise too much dilutive equity (no investor capacity) or debt (rates too high) to justify the project. As an aside, what really fires me up is CVV call it a $2bn project at NPV7%, who has a 7% cost of capital these days??

I'm still waiting for Rio to come to the party at Bismarck, that is the game changer project for CBY