patience is the key, page-3

james58, rough figures and my opinion only

with a 2014 start, at current copper prices, I figure the the equity value (net of extra capex) is something like $280-290m for the 5yr 3mtpa BFS scenario or $125-130m for the 7.5yr 1.5mtpa optimisation study.

For the 3mtpa 10yr development case they are aiming for I figure might be something more like $420-430m. they already have 75-80% of the measured and indicated resource already in place for this, but are trading around the price you might see s***y scoping study projects at.

I don't know enough to say if it's cheap for good reason (some technical ore body thing), or just cheap because of the bs last year. I am trusting Read's judgement, being part of a real project that can be executed per the plan

if the project does get done as per the development plan, there appears to be lots of upside in the share price.