How about potential valuations for the ore bodies, though, especially if we use the Mount Isa area for the comparables on tonnage (rather than South Australia)?
I can't find much that is publicly available on how the Queensland discoveries have been valued in the past, in part because there is so much variation on tonnage and grade across different deposits.
Ernest Henry is the biggest of the IOCGs in tonnage terms by some distance at 300MT, right? The other IOCG breccia/shear deposits seem to be much smaller, including Trekelano, which is the nearest distance to Duchess. Osborne seems to have higher grade and better tonnage of about 30MT, but it is classified in the Glenn Little study slightly differently as showing ISCG characteristics.
Obviously we have to wait until there has been a lot more drilling to get a better sense of the deposit at Nil Desperandum and the likely cu and au grades. But do any posters have general rules on how to value an ore body of, say, 30 million tonnes. What's the likely capex to set up a mining operation, for instance? And what is a potential cash cost for each pound/tonne of copper extracted?
Or is there a quick and dirty way of estimating a potential valuation based on the likely copper/au equivalent 'in the ground', like the basic valuations for gold explorers with resource inventories?
Without more information like this, or a few comparables for other projects that might bear resemblance to ND, I'm not sure how anyone can get to forecasts of 3, 4 or 5 dollars per share etc....
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