MPS report on Cudeco's web site.. "CuDeco�s Measured and Indicated resource for mining is stated at 31Mt @ 1.24% Cu(eq). This Cu(eq) grade is based on CDU�s Project standard of US$2/lb Cu, US$26/lb Co and US$900/oz Au to maintain consistency over the last 4 years. Based on current commodity prices, we estimate the current Cu(eq) grade is 1.04%."
I wont to know why Cudeco are still using the 1.24%Cu(eq) INSTEAD OF 1.04%Cu(eq). Its being propped up by 19%.
Nev, "Number of tons: = 30 mt * 1.24% = 372,000 tonne of Copper" You forgot too mention Cu(eq) less 18% = 305,000 tonne of Copper.
Cudeco market release today first page. "MINING AND PROCESSING COSTS ASSESSMENT BY INDEPENDENT METALLURGICAL AND MINING CONSULTANTS, BASED ON PROCESSING OF INITIAL 30.9MT @ 1.24% Cu Eq RESOURCE (389,000 tonnes copper) FOR 3MTPA PROCESS FACILITY. "
Cudeco came up with 389,000 tonnes?! I think its fare to say something isn't adding up right.
CDU Price at posting:
$2.07 Sentiment: None Disclosure: Not Held