Yep, High grades are certainly not always needed to make a profitable mine. I haven't looked into bougainville.
However this was released by rex minerals last month.
ASX and Media Release: 6 February 2013 ASX code: RXM Australia’s Largest Open Pit Ore Reserve – Hillside, SA ? Maiden Ore Reserve for the Hillside open pit totalling 120Mt @ 0.53% copper, 0.14g/t gold and 12.8% iron ? Eight year Ore Reserve base with 636,000 tonnes of contained copper ? Further increases to the Ore Reserve expected in late 2013 ? Updated Mineral Resource Estimate completed for maiden Ore Reserve (Appendix 1) ? Hillside Bankable Feasibility Study (“BFS”) commenced and on track for completion in 2013.
Therefore 1% cu at Mt hardy could be very very profitable if there is enough of it.
Good luck to all.
TNG Price at posting:
9.0¢ Sentiment: LT Buy Disclosure: Held
