Porphyries are expensive to find more expensive to define and incredibly expensive to develop. The reality is most will go to the big guys with the big bank. But it’s been on a good run and with some luck should have much more in it.
What was really interesting, recently I was told this first hand about a conversation with 3 top guys out of Newcrest, they told a geo I know that the public only ever hears about them drilling for and mining Porphyries, but the NWC guys went onto to say that their bread and butter were epithermal deposits as they are cheaper to develop and just keep on giving.
Valuation, page-80
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