OW maybe you should take your own advice. Bottom of every ann...

OW maybe you should take your own advice. Bottom of every ann outlines recoveries in relation to CuEq.

Nothing wrong with using CuEq figures when its closely linked to proven recoveries from extensive metalurgical testwork (circa $3M spent on this testwork over several yrs).
Not only that, its also formed the basis for the plant design. Hardly going to spend $150M on a new plant if you weren't confident in your testwork/recoveries. More to the point you wouldn't have 3 cornerstone investors lining up to fund it. Well its actually 4 now with SinoSteel recently happy to take shares in lue of cash to build it.
As far as DFS goes, no need when the company can raise any required funding...see points above.

Copper Equivalent (CuEq) Calculation
The formula for calculation of copper equivalent is based on the following metal prices and metallurgical recoveries:

Copper: $2.00 US$/lb; Recovery: 95.00%
Cobalt: $26.00 US$/lb; Recovery: 90.00%
Gold: $900.00 US$/troy ounce Recovery: 75.00%
CuEq = Cu(%) x 0.95 + Co(ppm) x 0.00117 + Au(ppm) x 0.49219

In order to be consistent with previous reporting, the drill intersections reported above have been calculated on the basis of copper cut-off grade of 0.2% Cu, or a copper equivalent grade of 0.35%, with an allowance of up to 4m of internal waste.

The recoveries used in the calculations are the average achieved to date in the metallurgical test-work on primary sulphide, supergene, oxide and native copper zones.

The Company’s opinion is that all of the elements included in the copper equivalent calculation have a reasonable potential to be recovered.