Ann: Exceptional High Grade Results at Oracle Ridge, page-39

Waddup Sting1. Let me give you the Cu-101 so you don't hurt yourself. From one ape to another.

Open pit = quick and easy, but requires large, low grade tons.
UG= slow and hard, and requires small, high grade tons.

A good grade is north of 2%. (unless they have decent ancillary metals lurking with the copper. These guys have meh Ag and double meh Au)

At 1% Cut off, and at current price of $4/lb, that means there should be at least $80 of copper sitting in 1 x ton of rock. Breakeven costs of underground mining, milling, smelting etc will likely dwarf that. Not to mention actual payback to shareholders. (Although if they can keep finding more 33% copper, you can just direct ship that to a smelter.)

You are spot-on with regards to large-ness. This is a minnow.