IVA's release on the Mt Elliott resource specifically states that a SCOPING study is only expected to be completed in mid-2009. There will inevitably be plenty of work to do after that. As I alluded in my earlier post, there is therefore plenty of time to wait and see if they can (as I'm sure they hope) turn it into another Mongolia (Oyu Tolgoi).
I would agree with your inference that a significant recovery / appreciation in the Cu price would almost certainly be a pre-requisite for a project of this grade and size. The development price tag will be $$billions.
I also agree that the market is a much different place to what it was before we knew anything about Sub-prime etc. Good projects will always be good projects though!
IVA Price at posting:
$1.27 Sentiment: None Disclosure: Not Held
