Ann: Costa Fuego PEA Presentation, page-2

The small upside here is the resource upgrade from the satellite deposits and maybe Cuerpo 1 additions at depth which will add a couple of hundred K tonnes to the project. Unless there a major new discovery.

The major upside is in the copper price. If the train smash does happen, as many expect, in the next 2-5 years, the price of copper is going to go large. Easily past $5 and probably much higher. Just looking at the NPV to Cu sensitivity slide in the presentation the NPV goes to over $2b at $5 and over $3b at at about $5.75. It could be going even higher by the time they get this into production. Yes, might be a long wait for some.