Here is my guess of asset and liabilities values:Cracow 300...

Here is my guess of asset and liabilities values:

Cracow 300 million
Avoca tank 100 million
Constellation open pit 100 million
Murrawombie open pit 30 million
Mt Colin stockpile 20 million
Other Tritton low grade underground ore -80 million
2 years of Jaguar care & maintenance -20 million
5 years interest on debt -30 million
Trade creditors -70 million
Employee leave & other benefits -30 million
Rehabilitation -120 million
---------------
Net value 200 million

Tritton low grade underground ore must be dug up to keep the mill capacity high, until the Constellation and Murrawombie open pits start producing.

If the copper price goes up a lot, then Aeris can repay the high interest loan, develop Constellation and Jaguar which means no more Jaguar care & maintenance costs and no more low grade Tritton underground ore. Profits could be reinvested into Stockman. So Aeris could become a billion dollar company in 5 years time if the copper price goes up enough or go bankrupt if the copper price goes down.