Ann: Australia's Next Great Copper Region Presentation, page-32

I was more thinking the mid range majors like MAC for example, there are a lot of players and just not enough copper.

But on the topic of South America, it's pretty questionable on a long term basis. People call it tier 1, but there's quite a few things that go on down there that are not tier 1 at all. People just eat shit because the copper has been so good.

I think the copper macro (and I don't mean the copper price here) just dictates more m&a in the future because even if we scrap the whole EV and AI thematic driving copper, industrialisation of India, Africa and the ME = billions of people consuming more copper and pure supply and demand means there's not enough to dig out of the ground. It's obvious what happens next, the majors snap up the best projects first and the mid range majors then go to town on juniors. Finally exploration juniors pump, but in the case of HAV the 2nd wave would snap it up.

I just don't see much else they could buy. CVV?

But to be honest I personally believe anything good will get snapped up, it's just when and in what order.