GFM, the copper itself might be 99.65% pure, but the NCu won't be as they'll never get all the dirt out before shipping, especially from the larger nuggets where it will be trapped in the copper matrix. The DSO NCu ore, for example, is estimated at 70% to 90% Cu in the last quarterly. And the AGM presentation's second Process Plant flowsheet shows that the NCu concentrate will be 95+% Cu. There is also a photo of >95% Cu at a grade of 94.7%Cu from the test circuit with the comment that magnetite will be removed magnetically, although there's nothing on the Process Plant Flowsheet for that.
But even if it was pure enough for LME copper (and even 99.65% falls short), you still won't get a price greater than LME as it still needs processing into cathodes.
LME copper has to be of a minimum spec of:
LME Copper physical specification
Quality
Grade A copper must conform to the chemical composition of one of the following standards:
BS EN 1978:1998 - Cu-CATH-1
GB/T 467-2010 - Cu-CATH-1
ASTM B115-10 - cathode Grade 1
Shape Cathodes
http://www.lme.com/metals/non-ferrous/copper/contract-specifications/physical/
Which means that total impurities must not exceed 0.0065%:
http://www.lme.com/~/media/Files/Branding/Chemical%20composition/Non%20ferrous/Chemical%20composition%20-%20Copper.pdf
Or that the copper is 99.9935% pure, which CDU's NCu misses by two orders of magnitude.
Therefore CDU's copper IS impure for LME purposes even if the product was pure native copper, and there is no hoodwinking of the forum from me. Nor is there any chance IMO of getting a premium above LME copper for the product.
Back to roh. Where is your source for the premium, please?
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