From Patersons Research Note Feb 15 Before TD2 investigations......

From Patersons Research Note Feb 15
Before TD2 investigations...

Sp thats the initial target

Metminco Limited’s (MNC) Los Calatos Cu-Mo porphyry project in
Peru is a significant copper deposit on a global scale. We
estimate its resource of 1.4bt at 0.47% Cu and 0.022% Mo ranks
in the top 25 global copper projects under pre-feasibility in terms
of contained metal. However, the upfront capital cost of $1.3bn
is a significant hurdle for the projects development, especially in
the current copper price environment. Therefore, MNC is
investigating an alternative development option by targeting a
smaller scale higher grade mining operation with lower upfront capital cost requirements. We expect an updated Mineral Resource in March and Preliminary Economic Assessment (PEA). We rate MNC a Speculative Buy