The estimated market cap of a copper project depends on various...

The estimated market cap of a copper project depends on various factors, including copper prices, project development stage, production costs, jurisdiction, and market sentiment. However, a rough valuation can be derived using the following approach:

1. Contained Copper Value*
- Total contained copper: 515,000 tonnes
- Copper price: Assume A$13,000/t (based on recent copper prices)
- Total Metal Value = 515,000 t × A$13,000/t = A$6.695 billion

2. In-Ground Value Adjustment
Mining projects typically trade at a fraction of their in-ground metal value depending on their development stage:- Exploration stage: ~1–5% of in-ground value
- Advanced exploration: ~5–10%
- Feasibility stage: ~10–20%
- Development / Construction: ~20–40%
- Producing mine: 40%+

If the project is in early exploration, a reasonable estimate might be **2–5% of the in-ground value.

3. Estimated Market Cap Range
- 2% of A$6.695b = A$134m
- 5% of A$6.695b = A$335m

So, as we stand now with the project in the early exploration stage, the estimated market cap should be $134m–$335m.

the current market cap of $49m is was undervalued. I have a target of 30c mid-term.