Hi,I think there is some amazing news in that...

Hi,

I think there is some amazing news in that announcement!

Contained copper cost is 46cents per pound - not including molybdenum credits.

This is lower quartile.

Even if copper goes back to all time record lows of around $1.20 then this project is still profitable whilst other mines would be shutting down.

The only risk that remains now is the country risk of operating in the Phillipines. It seems odd that XStrata want to shut out Indophil from the project considering the work that Indophil directors did back in 2002/03 in getting the locals on-side.

If I was Indophil and really wanted to sell ... I'd be ringing up people in China. They're the ones driving the copper price back up.

Joel