a caution for all, page-150

ozblue,

I understood and what you have calculated closely matches my numbers. your gold difference is down to CDU having 21ppm not 15ppm, that would get you to the same gold figure as me.
And if you look at the prelim financial model and the before tax profit, you will see just how important cobalt is to the model.

I felt I had to post something based on current markets and CDU published recoveries and resource to counter the fairytale $12 bill. Copper and cobalt prices spiked just before the GFC and may not be seen again real $ terms. And as for the amount of copper gold and cobalt in ground, would we have not seen in the ensuing 9 years a JORC to reflect those numbers ?

In Mr McCraes affidavit, he refers to the prelim financials and $3.9 bill. Are we to believe that the company has not updated their model since 2012 ?
Why not give us a current model using current market rates and FX to calculate BOTH Cu Eq and revenue and current cost estimates and with an updated capital cost.
IMO, based on lower revenue and making an adjustment to the prelim model for the reduction in revenue (but not volume so costs should stay the same), the share price (even allowing for another 50 mill shares) is still undervalued at$1.25, by how much, you will have to workout yourself.