Hi MB2029,MCB, Sagay and Opowu all are multi decade projects in...

Hi MB2029,

MCB, Sagay and Opowu all are multi decade projects in terms of resource size.

Thus far, we have a finished Scoping Study for MCB outlining a 25 y mine life whereby the initial 10 y will be spent on the high grade core of the resource, generating the highest margins and fastest payback (2.6 y) of the Capex. This should make sure that we will be in the lowest quartile of cash costs for copper producers.

Sagay could potentially be even bigger, but plenty of drilling would still have to be done and therefore, a JV partner would be welcome to drive the project forward.

Opowu provides for different metals and if they can sort out its metallurgy and provide a positive scoping study, that project could have a mine life of 30y+ imho.

Right now, it's good to have the focus on MCB and to get our flagship project into production due to its very advanced stage, very economic high grade core, social license and it being close to obtaining a mining license.

So in summary, you have three huge projects, each with potentially a 25+ mine life and huge resource size, among which MCB is the one with very outstanding copper grades and the best economics imho.