ffm chart, page-83

Copper is up another 2.5% to $4.875/lb. That’s about a 40% increase since the 2023 prices of ~$3.5/lb. Even without a resource upgrade this is becoming more and more attractive as a restart of operations could provide immediate positive cash flow generation. If they can prove this up to be a 2mT CuEq resource my only concern would be predatory sharks sniffing around as BHP have set the mood for such activity with the Anglo takeover attempts.

Yes the share price has appreciated a lot over the last few months but it’s no wonder with what the copper price has done, let alone the upside from proving up the resource and new discoveries this third drill rig will be aiming to do.