Cost estimates..For convenience I choose CDUs recent...

Cost estimates..

For convenience I choose CDUs recent announcement.

CDU have
30.3mt @ 1.7% CuEq (0.8% cut-off) Measured and Indicated
and their initial license is for 3mtpa for 10 years.
(the actual resource is highly contended, it could be bigger, so I dont expect our market cap to reflect CDUs NCU speculation -initial off take etc)

We can presume we have 30mt at 1.6% cueq in there somewhere at milo. 0.8 polymetals and the rest REE.

I presume the majority of the cost is going to be comparable for both resources (digging/crushing/shipping)

Just based on that 30mt somewhere in the resource, I suggest we have $1.25 billion NPV.

Similarly to CDU, we have more than that 30mt in the ground.

The two companies above have different resources, yet there is this similarity that I am noting. Thats where the comparison ends... open in all directions.