Disallowed

At current SP of 0.4c, EDM has a MC of only $3.2 million.

All the funding is in place to purchase the Baita Copper mine on 1 August 2011. The mine will be restarted in Nov and target to produce 200000 ton of ore.
Based on the past production of the mine, only about 10% refined copper is produced/delivered.
Assuming that 2000 ton is refined and delivered from the 200000 ore ton per annum, with 15 month copper price at around $9500 per metric ton,
the Baita Mine would produce $19m worth of copper per year! Or equivilent of a SP of 2.4c
As there are 4.6 million ton of tailings but let's take 50% of that, the mine life could be 10 years ..... Or $190million!

So at 0.4c and MC of $3.2million, what do you know? ;)

DYOR