*** $25 billion resources ***, page-27

*** massive rerating * look at it this way *** Let's have a look at how undervalued TYC is.

TYC currently controls a rapidly expanding resource of 12 billion pounds of copper and 9 million ounces of gold.

At US$1.45/lb copper the copper is worth US$17.4 billion. At today's exchange rate that is worth AUD $22.15 billion.

At US$422.50 the gold is worth US$3.8 billion. At today's exchange rate that is worth AUD $4.84 billion.

So the resource is then worth: $A27 billion.
Market Cap is just AUD $53 million.
So, for $1 market cap we get $ AUD 1,075 of copper and gold.

What a phenomenally high number! Over $1000 of resources are bought for each dollar of market capitalisation!!

The gold equivalent of TYC's resources is also like having a gold resource of 61.5 million ounces!

* BUT ALSO LOOK AT TYC THIS WAY * :

A AUD $6 increase in the price of gold increases the in ground value of TYC's gold by more than its current market capitalisation!

In my opinion TYC is the biggest bargain since PDN was trading under 10 cents. There is a BFS due for completion mid year on one of TYC's resources. This will really focus the market on how gigantic the resources under TYC's control are.