No doubt, Weatherly has been recently able to acquire a significant presence in the copper and smelting business. Based on the resource of 690,054 of contained copper, and the $30 mill consideration, the cost per tonne of copper will be $43/tonne inclusive of the smelter assets.
Compare this to $338 for Angoplasta and $351 for First Quantum - both very large copper plays.
The $30 mill cost is EBITDA X 2. LOL. Plus, CPR Ongopolo has an atirbutable NPV of 84 mill pounds or 27p per share.
Ore production is supposed to gather momentum in the coming months.
No wonder the WTI price is soaring.
The valuation of EZE is one of those one offs and I hope some are listening.
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