They don't have the people with the experience in Cu exploration. They would rather fund the work up of the mine then make a staged decision to buy into it based on the results. This is common for big co's.
You're right in one respect. Tier 1 porphries are the natural province of majors like CAP.
We've got a tiger by the tail (just have to be sure where out thumb goes).
Sorry not one of my favourite jokes.
Ann: Hot Chili and CMP Execute LOI on Second Copper Project, page-41
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