A couple of things to consider below. I think RTG will end up being a top performer after permitting this year. The grade, open resource, open cut, low capex mines like Mabilo will be standouts as things change. The worlds largest miners understand this and will continue to own and develop copper mines. RTG has the added bonus of some 40% of the expected revenues are to come from Gold.
Mabilo is regarded as the top 5 development project among its peers in the world for grade. it also has two separate discoveries that can drilled out after cash flow starts. I reckon RTG will end up presenting itself as a great bolt on for a mid tier player who wants to drive down their overall higher production costs.
BHPB, November 2014: “As copper porphyries mature, a significant deficit is expected to emerge beyond 2018 grade decline, higher strip ratios and longer cycle times underpin an attractive industry structure”
Rio Tinto, April 2015: “I see a substantial supply gap opening up by the end of this decade -one that will require another 4 to 5Mt of new annual mine capacity”
Glencore, May 2015: ““ Consensus surplus elusive so far, increasing downside risk to supply in 2015/2016. Mined copper head grades at twice the reserve grade are not sustainable”
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