Far East Capital Commentary - 24 October 2020, page-22

I got in a bit late on this one (and a bit high) but it's a long term hold for me, and I'm looking to average down on further weakness.
I did some back of envelope calcs based on the CEO's aim to be producing 30-50k tons of copper annually in the future.
Given that equates to $300-500M AUD revenue at current copper spot, does anyone have a guess on what the cost per lb for production would be using the leaching process? I figured maybe a 50% profit margin, but aren't there copper producers who produce for even less, like <$1 USD per lb? Someone more knowledgeable want to throw some numbers around?
The potential seems huge, but I may be a bit green when it comes to copper production costs.