Ann: A1M: AIC Mines Takeover Offer for Demetallica - Presentation, page-106

More on the geology side rather than engineering. Jericho as a stand alone is possible if the capital costs of a potential new mill aren't too crippling, at the moment its not the time to be thinking about constructing a new mill due to labour costs and inflation etc. Bit of a gamble as to when /if ever these inflationary macro's go away. We have to remember that getting a mining lease for just an open pit and maybe some underground ops is a lot quicker than a mining lease with full processing facilities and new tailings dams etc etc. From a logistics, capital allocation and permitting point of view it would be sheer idiocy to construct a brand new mill and processing facilities within view of the existing facilities at Eloise, far more economically rational to upgrade Eloise (if required) which is already on a granted mining lease.

A new greenfield site might have other options maybe closer to the highway if there are other base metal projects close by that could share the upfront capital costs and delays you get in a new mill build. That requires other companies to have success and co-operate.

Your questions about the tonnage required are specific to the project and beyond my expertise but some simple rules of thumb about mine life being long enough to overcome the capital hurdle and staying operating long enough to at least get part of a high commodity price cycle are the common themes of base metal operations.

Rocklands I guess is an option, once they get it all working properly, as would Ernest Henry but that's all dependent on other owners finding space in their mills and the costs of trucking (fuel and labour price sensitive).

Anything is possible with a high enough copper price, and a favorable exchange rates, and nothing is possible with a lower copper price or unfavorable exchange rates or without a granted mining lease.