re: bfs due monday , page-3

tremendous discount to npv agreed its NPV @ $2.20 copper is $710M(source: april presentation). ITs mkt cap is currently $60M. Add another 250M shares = $50M mkt cap. Thats $110M. So its trading at a 6.45x discount to NPV at a decent copper price $2.20.

I note a lot of their tenements haven't been fully drill tested yet. Imagine if they increase their mine life beyond 10 year mine life, through upgrading some of their resources to reserves, and also through many extensions. They hold one of the best leases in the area without a doubt. Also one of their leases has the geological structure from Cudeco going into their property which is not even drill tested yet!

Fed.