yes, they do pay $399 for ore - including any waste product if the grade is 7.5% and it is sulphide ore.
Copper on the LME is $7000 a tonne (approx) - why would we get $399... why would we accept that? read the announcement 27/02/14 - they pay per tonne, based on the copper content of that tonne (in this example 7.5% - which i deem as too high for us to hope for, but that is not really relvant here).
MNE Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held