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3.9¢ true north copper limited

You are confusing LME price of copper sold with cost of copper...

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tablelander001

64 Posts.

7

06/09/23

17:36

Post #: 69758412
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Originally posted by Madazsilica: ↑

My numbers from the releases and prospectus..

120kt Mt Norma ore (JORC measured group- prospectus) x .02 (Average Grade 2%)= 2400t contained copper

You never get more than 80% recovery from SX over a 3-5 month basis

2400t Cu x say 70% recovery= 1680t recovered metal

1680t recovered Cu x 2205 (to convert to pounds)= 3.7M pounds of recovered Cu metal in copper sulfate form.

Current copper price $3.84 per lb USD (*****metals.com) = $5.96 AUD per lb

$5.96 per lb (AUD Cu price) - TNC AISC $1.40 per lb

= $4.56 AUD per lb profit (for copper sulphate production)

= 3.7M pounds x $4.56

= $16.87M profit from crystal production over 5 months basis.

One would imagine this is going to pay for Mt Oxide/Cloncurry exploration and ops.

Another box ticked in my opinion.... Look forward to seeing the mining re-start- they are saying decision out shortly..

We are due for another exploration announcement!!

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You are confusing LME price of copper sold with cost of copper sulphate produced. A common mistake even the Morgan’s report makes, thus is way off accurate. Margins are still good though for this kind of operation and don’t forget copper sulphate sells at a premium to the copper price.

Last edited by tablelander001: 06/09/23

TNC Price at posting: 21.5¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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