Based on JORC report, CDU has 10MT Cu1.66% (Cobalt is not...

Based on JORC report, CDU has 10MT Cu1.66% (Cobalt is not included) measured and indicated resource using a Cu0.8% cutoff.

I think most of them are sitting in the central of Les Minerale, an area of 600m*40m to the depth of 150m. With sg=2.8, 600*40*150*2.8=10MT.

I do believe CDU will mine this area with an annual copper product of 50,000T for the first 3 to 4 years. Based on the current market copper price, such copper product should have a market value of $1B.

What's the cost? $200M Capex may be enough for handle copper only. After that, CDU will move to low grade copper and cobalt resource on a larger throughput.

What's the net profit for just mining high grade copper only? I do believe the NPV of this part will be beyond $400M.

Even though the share price could go lower under panic selling, I do believe that holders can see a more healthy SP above $2 in the near future.

Weihua