IF you go through the appraisal report for the sale of the mine back in 2004, it was was strongly noted that the Mine's cost are 75% fixed (this was considered bad with the copper price at $1.00 and full costs per pound at $1.10).
Thus the mine is strongly leveraged to the Copper price - it is hard to see how this can change
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- maybe it's nowhere near $4m
IF you go through the appraisal report for the sale of the mine...
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