Rang the Director yesterday with a few questions regarding acquisition of high grade copper project . He said the strategy is to conduct feasability studies with a view towards getting a stage one operation online as soon as possible which is in line with the announcement detailed last week . The average depth is 60m which I am told is quite shallow and pretty straight forward for extraction purposes and after getting stage one output operative they will scale things up proportionately as they move along . The figures in the ann ( 5,800t copper metal calculated in 97) if we calculate this it works out to 33M which he said were very conservative estimates with the resource more likely to contain around 8,500t which would work out to 48M with production time within 18mths . If these figures turn out to be correct this is alot of money for a tinpot Co to come into . Any comments welcome
HCY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
