mumbwa comparisons

I have followed BTR very closely for a number of years. After hole 33 was announced I did a search for drill holes which had produced >1000%m Cu (eg 100m @ 10% or 1000m @ 1% etc)over the past 10 years.

The search produced only 5 other copper projects globally which met this criteria (there may be a couple of others, held by majors which do not need to report exploation results which are deemed immaterial to overall company value). The quality of these projects highlight the potential at Mumbwa, the three best comparisons are below:
- Carapateena (incl 900m @ 2.2%Cu plus some gold) - purchased by OZL for US$300m. Orebody is very deep and will cost >$2bn to develop
- DeGrussa (incl 29m @ 52%Cu)- Sandfire EV ~$1.3bn
- Jabil Sayid (+300m @ 2.7%) - Equinox t/o of Citadel for $1.25bn
- The two other projects which meet the criteria are include Oyu Tolgoi (val >$15bn) and Golpu (val. >$10bn)

The good news is that all these assets are either in production or being advanced to production. While the drillhole from Mumbwa is slightly misleading due to steep dip of high grade section and vertical drill hole, the latest results will have a fantastic impact on project economics and I believe there is now a very good chance we will see Mumbwa being developed.

Will be a very intersting 6 months for BTR including seeing any new shareholders which may hav come on to th register over the past week or so.