51m @ 3.6% Copper Including 22m @ 7.8% Cu – with up to 1m @ 32.4% Cu within 9m @ 14.0% Cu
This company reserve presents as though it is plonked in the vicinity of some very good copper seams. As far as financial viability goes, they will do very well with their ratio for recovery cost/market prices. A good comparison of inefficient grades and recovery costs causing problems - look at TMRs mess. It costs more for TMR to recover copper than they can receive at market for what they have recovered. Their grades were around 1-2%. MWEs grades are as high as 32.4% and will average out to be way above average so far - maybe as high as 5 - 8%.
Good for investors.
MWE Price at posting:
4.3¢ Sentiment: LT Buy Disclosure: Held