Coppermoly CEO Maurice Gannon on Copper Mining in Papua New Guinea, page-2

The following from the interview shows the massive upside COY will deliver in the coming months!!!

Im also reading between the lines re MAJOR companies knocking on there doors........

CIN: Getting back to your copper deposit, press releases this year have stated that you have intersected “exceptionally” high grades. How does your copper deposit compare to grades found around the world? Are there many copper projects with high grades like this?

MG: There’s not a lot really. Anything over 1 percent intersected in a drill core these days starts to attract attention. What we actually have is quite high grade, ranging from above 1 percent to up to 4 percent in places, and it’s near the surface, so that obviously lends itself to very significant savings on the economics of the project once we get to development. Also, what we did on Nakru in particular was to apply a surface geophysical technique called three-dimensional induced polarization, referred to as 3DIP. The results that generated really tell us where to drill so we can be very precise with our drilling.
Let me put it this way: at Nakru, the indications are that there will be a significant strike length of high-grade copper starting close to or at surface, so that is really unusual. It’s not that unusual for good copper grades to be found, but they’re often at a couple hundred meters or greater depth, which obviously means that you’re clearing overburden for a good part of the mine life before you get to “paydirt,” as we call it. Our projects are not like that. The economics are going to stack up for sure. We’ve just got another year or two to prove up the resource and there’ll be no doubt that there’s excellent economics in taking this to a mine.
I couldn’t disclose names, but I’ve had quite a bit of attention since we’ve announced those results from some really major companies, and, of course, Barrick Gold (NYSE:ABX,TSX:ABX) was previously attracted to our projects and was also heavily involved in exploration at one point. The interest of those companies speaks volumes for the quality of the assets that we have. The main reason Barrick exited was due to corporate decisions and the fact that they pursue an exploration paradigm of “Barrick-sized deposits,” and they decided that our projects were not of sufficient size for their model. That’s fair enough. Of course, I’d debate it, but that’s the decision that they made. Nakru is a potentially outstanding project, and we intend to prove that. It’s too early a stage to really say that it’s going to compare to any of the giant mines on the planet, but what we already know for sure is that it’s a very nice resource with obvious excellent economic potential.