Paterson Province $/t contained metal comparisons

In order to be able to compare deposits, grade tonnages and $ contained metal per tonne I have developed the table below. Some things leap out at me through comparison:

1. Given the depth Havieron doesn't look that good apart from the Crescent zone.
2. Minyari, which is very close to surface, looks pretty good.
3. Antipa (AZY) could not give any stronger hints about their belief that they have found a Havieron type deposit beneath Minyari and the geology and early high grade drill results support this view. Combined with a fairly high grade open pit resource above and Minyari is impressive. Minyari is the jewel in the Antipa crown and full marks to management for retaining 100% ownership.
4. The Calibre resource upgrade indicates that the 0.8g/t Au cut-off has been included for very good reason. Combined with Winu 0.45% Cu cut-off resources and you get a handy resource over 200Mt at very similar $/t contained metals.
5. It is hard to sustain the argument that Calibre will be mined before Winu because it is better grade unless the higher cut-off is applied. Depth of cover, permitting and metallurgy also have a bearing on this and have not been considered here.
6. If the Citadel JV can yield additional resources (highly likely to add to Calibre/Magnum and from other targets such as Rimfire, Boxer etc.) and Winu, or nearby zones, can extend (I understand this may be possible) then a 1 billion tonne $70/t contained metal project may be the target. I really have no idea if this is viable but Rio would know the economics as well as anyone. Open pit costs being much lower than underground generally and given the geometry of the deposits (large widths) the waste to ore ratio may be attractive.
7. Telfer has been excluded from the Table but it should be remembered that it was very high grade and I would not swap it for Winu, Calibre, Havieron combined. Over 32M ounces of gold and 1Mt copper produced to date. Finding another Telfer is undoubtedly still the holy grail for the Paterson Province.
8. The Paterson Province will most likely be the location several more large gold and copper deposits. The Antipa ground combines attractive geology with shallow depth of cover and is large enough to be the location of several additional large deposits.
9. Antipa shareholders will benefit greatly from the current drilling on the 100% owned ground. A few more deeper drill hits confirming the Havieron style deposit under Minyari and Anitpa will move to another level.
10. DYOR and always take responsibility for your investment decisions. This is not investment advice and investments must also consider your own circumstances, market and commodity price fluctuations etc.