Management seems confident that .2% is economical, but I don't feel like they have spelled out exactly why they believe so yet.
The processing price quoted in the announcement was $34-37 aud per tonne. In 0.2% copper there is 2kg of copper, which at current prices is $12.7 aud/kg, or $25.4. I can only assume that they are thinking of a larger processing plant to cut the cost of processing, or of mining a high grade core first or something.
I think I'm in agreement - hoping for better grades at Quorm and Absalom.
Do you have thoughts on the processing at all?
I'm pretty bullish on the copper price - I reckon we're going considerably higher.
DEX Price at posting:
33.0¢ Sentiment: Hold Disclosure: Held
