And if we take your $13,340/t, and take the c3 costs of...

And if we take your $13,340/t, and take the c3 costs of $2.83/lb, I get a profit margin of about $4,300/t.

$4,300/t x 25,000tpa = $108mil/pa. If we then take a p.e range of 6x - 10x, that’s $648mil to $1.08bil.

With currently 730mil SOI, I get a share price of 89c - $1.48.

And with the currently heavily depleted Cu stockpiles coupled with future anticipated Cu demand, I can only see Cu price going up.

There are many graphics out there showing how a mining company sky rockets during the FID to production phase. That’s the ride I want to be on.

I’m thinking a re-rate to 30c minimum once CYM gets funding. And then from there a steady SP appreciation from FID to production.

IMO

GLTAH