xstrata walk, page-35

Hotfire
In regards to your calculation of values.
For starters the Little Eva deposit (538,000t contained copper) in one open pit. The Exco resource of (472,000t contained copper) was in four open pits. It would be reasonable to ascribe a lower in ground copper value to the Exco copper resources due to the increased costs of developing four pits to access the copper resource rather than just one. So , at the Exco prices, for %100 = $200 mil

We have additional resources of 137,000t contained copper at Lady Clayre, Bedford, Ivy Anne, that the Exco price would be applicable. So, at Exco prices, for %100 = $50 mil

The copper only deposits it would be reasonable to use half the Exco rate, so 840,000t contained copper for 100% = $155 mil
So if Xstrata want 100% of Roseby it’s, on a conservative basis, $400 mil, or a little less than 80c per share.