attn mx-, page-43

HT,

great summary but can you tell us about the tier 1 mines that could be on the market and how they differ from RXM Hillside opportunity?

Are you thinking primarily of grade putting Hillside in tier 2? The thing with hillside resource so far is that is is all open cut mineable. So although grade is not spectacular overall there is a lot of Cu there and fairly easily mined with open-cut.

If you look at Degrussa for example from SFR it is good grades but will need to go underground to get all of it. Its not as much total mineable Cu as Hillside (see RXM presentation with comparisons). I think current SFR price is at least partly due to the theory that the type of deposit and geology is sometimes found in clusters of Cu ore bodies - but so far no additional big exploration successes around degrussa for SFR - but they have not finished looking - will it be maybe a bit like PH in the end or will it be a major cluster of ore bodies?