Some media coverage -DISCOVERY METALS (ASX:DML)If copper in...

Some media coverage -

DISCOVERY METALS (ASX:DML)

If copper in Saudi Arabia is not exotic enough, how about copper in Botswana? That is what Discovery Metals (DML) is on to with its Boseto project on the emerging Kalahari copper belt.

A bankable feasibility study in to an initial development is due next month and is expected to confirm robust economics for a 13-year project yielding some 36,000 tonnes of copper and 1 million ounces of silver annually.

Macquarie recently initiated coverage of the stock and reckons it's a copper producer in the making. It estimates a capital cost for the project of $US185 million and cash costs of $US1.56 a pound (including royalties).

More to the point is Macquarie's 12-month price target for Discovery of $1 a share. The stock closed on Tuesday at 77 cents a share.

It sees Boseto as a "starter" project with the "potential for a significant increase in the resource base and a material increase in our base case 13 year life-of-mine assumption."



http://www.smh.com.au/business/investors-storm-citadel-as-copper-shines-20100623-ywgo.html