CDU have been using the same base formula pricing for Cu equivalent for a long time now.
With Cu prices at more than double the $2 being used and gold at $1500 p/o Im sure that more and makes up for the Cobalt price reduction ?
Exco have used the pricing below for their ore reserve statement.
The metal prices and exchange rate used in determination of the Ore Reserve estimate are:
* Gold: US$900/oz
* Copper: US$3.00/lb
* Exchange Rate: A$1.00 = US$0.80
30.3 mt @ 1.70% cueq, page-66
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