I got lost in the shower of petals at the wedding. Wisteria and azalea I know, but euphorbia?! And copper. Maybe not much in the Scottish State coach, but surely in the palace guttering. ?? But back to copper-bottomed speculation?. current LC resources of 926mt at 0.2% Cu cutoff grade are based on say 21,000m of drilling, ie about 44,000 tonnes per metre. Yes mostly (about 88%) Inferred Resources, but they still mean something. Say MNC now drill another 50,000m (mostly funded by current cash, depending how much drilling etc in Chile), and add say only 20,000 tonnes per metre? That?s plus approx. 1 billion tonnes. Still say mostly Inferred. Call it say 2 billion tonnes total then, at say 0.5% Cu equivalent, ie 22.0b lb Cu contained. Compared to 11.7b lb in Equinox (Barrick?s nos.) Times say 8 USc/lb CuEq, makes US$1760m of value. Plus whatever Chile is worth. And LC still open?? But as Cicero may have remarked, caveat emptor.
MNC Price at posting:
39.5¢ Sentiment: LT Buy Disclosure: Held
