$?Bill in a ? Life mine, page-18093

Current resource 930Mt @ 0.5% Cu eq. 82% indicated.

Current project metrics. US$1.3B capex for 23 years of 100ktpa copper 70-80ktpa gold for $1B pa revenue with potential to expand reserves out to 30 years. A "very upper tier-two project that is about to tip into a tier-one asset in terms of metal classification".

My very rough back of the napkin calculation, say we get US$100m credit for the gold, that works out to an assumption of US$9,000/t long term price for copper.

Strip ratio for the open pits is under 2:1, pushing towards 1.5:1 in the PFS work (maybe).

It will cost 20c per tonne to transport the Cortadera ore to Productora using the rope conveyor. Productora including processing plant environmental assessment was already done in the Productora PFS.

Timeline. Aim for a decision to mine and finance within 2.5 years and early production in 2027.

$22M cash will last to late 2023 as most of the exploration expense is now sunk.

Still greenfield exploration potential. Maybe to lift the project into 150ktpa production. [nudge, nudge, wink, wink.]

HCH had $800k in the bank and a 1c share price when they did the deal to buy Cortadera for $32M. [nice story - one for the grand-kids].

Reading between the lines, CE seems remains quite fixated on lifting the resource to 1Bt, with, I suspect, the aim of seeing the project taken over as a tier-one resource. Note the recent frequent mentions of Equinox.

Coming up ahead of the PFS, port negotiation a priority.

If CE can continue to get out and deliver the Costa Fuego story in a straight-forward, factual manner like this, especially around North America it cannot harm the share price. Maybe he has been getting some coaching. An excellent presentation. The best I've seen him perform.

Less clowns on the share registry wouldn't hurt either but you can't have everything in life.