I am sorry to bring rain on anothers party but I cannot see this project going ahead at todays prices.
Upfront capital is huge hurdle. Experience & very deep pockets will be needed.
I think a 5 year pay back is too long for a project where NPV is almost the upfront capital cost.
Maybe a LT hold if you are confident to bet on the long term Cu price rising at least a $US 1- in the nearer future.
A small deposit of high grade ore to get it started would be nice
Perhaps the DFS will find more value.
Cheers HD
Caravel Copper Project - Bankable Feasibility Study, page-37
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