Ann: Exploration Update - Drilling Recommences, page-16

If the scoping study shows the potential for 20,000 tonnes per annum copper equivalent production and a profit of $2,000/t, giving $40 million profit per annum for 10 years then it may generate some interest. Current discoveries are not big enough to interest BHP but perhaps a small mid-tier company that believes in the potential for more discoveries.

The scoping study will almost certainly be positive given the grade, open pit operation in early years, and copper price. I have no idea if this will help the share price.

The drilling at the North end of Lady Fanny is showing the potential for a considerable strike extension is very real. I am sure it continues, the question is does it shrink in size or retain the current dimensions as it plunges north.

It will be interesting to watch. Carnaby are progressing further exploration and this may give more potential for share price upside. How good would it be to make another copper discovery with the price of copper and market interest.

DYOR Not investment advice