From a recent release-"Managing Director Paul Dowd says this...

From a recent release-
"
Managing Director Paul Dowd says this acquisition is the most significant development in Phoenix Copper?s short history. The purchase of LCCM will transform Phoenix Copper from a junior exploration company to a modest copper producer over the next couple of months. It enables Phoenix Copper to execute, ahead of schedule, its vision to become a self-funded, near-surface non-sulphide copper miner with a pipeline of projects at varying stages of exploration and development.
On the basis of previously announced assumptions and having regard only to LCCM?s Mountain of Light project, Phoenix Copper has assessed the acquisition of LCCM as having an internal rate of return of greater than 400 per cent before tax, with LCCM also having available to it other projects with production potential and significant tax losses to offset project tax liabilities once the Mountain of Light project attains projected profits."