Cost estimates..
For convenience I choose CDUs recent announcement.
CDU have
30.3mt @ 1.7% CuEq (0.8% cut-off) Measured and Indicated
and their initial license is for 3mtpa for 10 years.
(the actual resource is highly contended, it could be bigger, so I dont expect our market cap to reflect CDUs NCU speculation -initial off take etc)
We can presume we have 30mt at 1.6% cueq in there somewhere at milo. 0.8 polymetals and the rest REE.
I presume the majority of the cost is going to be comparable for both resources (digging/crushing/shipping)
Just based on that 30mt somewhere in the resource, I suggest we have $1.25 billion NPV.
Similarly to CDU, we have more than that 30mt in the ground.
The two companies above have different resources, yet there is this similarity that I am noting. Thats where the comparison ends... open in all directions.
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