I find its always worth assessing potential value in relation to...

I find its always worth assessing potential value in relation to an existing benchmark in the same market.


CYY's initial stated target is "5-10Mt of mineralisation at 2.5% to 4% copper".   A reasonable initial target given spectacular historical drilling results IMO.


By reference, Sandfire (SFR) is currently capitalised at ~A$900M with:

"DeGrussa Ore Reserve update based on mining depletion to December 2014 – 10.6Mt grading 3.5% Cu and 1.3g/t Au for 376,000t of contained copper and 456,000oz of contained gold comprising:

o Underground Ore Reserve (including surface stockpiles) – 7.8Mt grading 4.4% Cu and 1.5g/t Au for 343,000t of contained copper and 368,000oz of contained gold; and
o Open Pit Ore Reserve (stockpiled at surface) – 2.8Mt grading 1.2% Cu and 1.0g/t Au for 33,000t of contained copper and 88,000oz of contained gold"


Granted, SFR is recognised, funded, profitable, has some gold as well and is well into production, however it is an interesting benchmark against CYY capitalised at ~A$10M.

Gives some gauge to the size of the prize.