Commodity Price and Exchange Rate Assumptions for Hillside...

Commodity Price and Exchange Rate Assumptions for Hillside Extended Feasibilty Study.

Copper (US$ real) US$3.00/lb
Gold (US$ real) US$1,250/oz
Exchange Rate (AUD:USD) 0.70

Current commodity price and exchange rate.

Copper US $3.18
Gold US $1288
Exchange 0.7845

C1 cost US $1.61 including gold credits
Assume all in C3 costs of US $1.88 including gold credits.

35000t payable copper
Spread between current copper price and C3 cost is US $1.30

35000t is 77,161,798 lb

Earnings of US $100.3m or Aus $128m per year at current exchange rate 0.7845

If dollar goes down to 0.70c copper still at US $3.18 then earnings of Aus $143m per year.

If copper gets to US $3.50 and exchange goes to 0.70 then earnings of Aus $178m per year.