for those too lazy to do their own homework.......
Its all about GRADE
According to PolarX's website the current total copper/gold/silver resource est. (not reserve), is:
6.2Mt for Caribou and Zackly alone containing:
127,000t of copper
24,420,000 oz silver
271,575 oz gold
At current metal prices in US$ Cu 7135/t, Ag 16.28/oz, Au1274/oz thats US$1.2Bn in-ground already.
Thats US$193 value in every ton mined.
Theres about 2.8 tons in a cubic metre of this dense material which means about US$540 or A$730 in every cubic metre mined.
At their planed 10Mt initial target this suggests US$2Bn gross to cover building a small a plant (1Mt/year) and operating costs from surface of only a fraction of that.
Now factor in the massive porphyry source targets............
PXX Price at posting:
8.7¢ Sentiment: Buy Disclosure: Held
