Total Copper Resource, page-22

"As they stockpile the lower grade as well as the higher grades will you agree what comes out will be a reasonable average for the 30mt."

Brett

Answer is No

There are high grade zones and low grade zones thoughout the 30Mt Measured/Indicated Resource. The average for the Measured/Indicated 30Mt is 1.02%Cu. The average for the Measured 19Mt Resource is 1.23%Cu. The average for pockets of high grade ore within that 19Mt will be higher again. Prime example being the "Jewellery Box"

The average is what the average is. Selling DSO or putting a higher head grade through the process plant during the early years will NOT increase the overall average of copper within the resource. The average is what the average is.

If you and other investors "Believe" this average is out by 50% or more and continue to post as such, I will continue to dispute it. Cudeco have spent the past 8 years trying to prove the initial claim of 59Mt @ 2%. so a wait of another 10 years to prove they have greater than 30Mt @ 1.02%Cu shouldn't be a problem. But I suspect WM may have well and trully left the building by then.

Best of luck