base metals, page-8

robscot/cuzo, and other number crunchers.....

Can I clarify the numbers on the copper prices expected by CMR. The CMR August Investor Update/Browns Oxide, forecast an expected copper price of $3.80 over the next 5 plus years. Now that was Australian Dollars wasn't it?

So if we converted that to US$ using the current copper spot rate/lb (US$2.69) and the current A$/US$ exchange rate (.775) then the number would be US$2.95.

So is the figure of A$3.80 in the CMR August forecast therefore also US$2.95 ???

And therefore if there is a forecast or expectation to get
US$2.95/lb copper and the spot price is currently US$2.69 in the current market then we are not far off the mark at the moment are we. We just need demand to improve a little to meet the forecast/expectation.

Is that right. Can anyone confirm my numbers or am I missing something...