Ann: Kalman Resource Upgrade Lifts CuEq Inventory to over 530KT, page-53

I've done a little maths and I hope the figures are correct. I tried to calculate what the value of the recovered CU equivalent was on 8 May 2023 and converted this into Australian dollars.

A year ago it was around A$2 billion. Calculated at today's metal prices, it is around 2.7 billion. So an increase of around 35% in relation to the value of the "contained" or the metal that could be "recovered".Of this, 71% is "open pitable". That would be around A$ 1.9bn.

Then I expected a copper price of USD 12500 and 15000 per tonne. The amount increases to around 3.5b and 4.15b respectively. These are substantial differences to the figures from May 2023.

Open pitable would then be around 2.5b or almost 3b equivalent in A$.

The price of molybdenum would also have great leverage on economics. Roughly, one could say that a plus of USD 10k per tonne would increase the value by an additional A$ 650m.

So the 3 big levers in Kalman are copper, moly and the question of how much is open pitable.

Well, I am not a geologist and I hope my calculations are not wrong. If the considerations are correct, then the question naturally arises as to why the SP or market capitalisation was almost twice as high around 1 year ago as it is today.

Of course, these are all just mind games and DYOR. Have a nice weekend. PS. it seems that CU wants to test the 4.48.....4.50 maybe.....