Yup. One Escondida every year... and we are currently finding...

Yup. One Escondida every year... and we are currently finding the equivalent of about one every five years I believe (and rate is falling fast). However it's even grimmer than this because most of the discoveries are being made in jurisdictions with serious ESG hurdles and countries with leftist governments that want to nationalise mines or in countries with cruel autocratic regimes. Botswana really does look good when compared to most of these countries (Chile, Peru, DRC). Once we are really in the Great EV Copper Bull market I believe that exploration ground will be so sought after and valued that copper explorers with prospective ground will be valued in the hundreds of millions purely because of the ground they hold (i.e. pre-discovery). The numbers simply don't stack up...