Despite it being somewhat scant in detail at this stage, the MOU announcement alludes to a sensational Copper prospect.
Just one aspect for example......... "700 drill holes to a depth of 500m."
The inital cost and time to undertake this amount of drilling would be considerable. At (say) $50/m drill cost - total cost = $17.5million. Don't know drill core spacing but if at 50m, total area sampled = 1.69 square km (1.3km x 1.3km). Spacing 100m x 50m this would be about 1/3 the area of the Roxby Downs open cut - massive!
Close to the Major global buyer - China. Power and rail close by. Cheap to mine & transport. Could this Yellowstone copper propect be any better????
"China is on pace to almost triple its annual use of copper to 20 million tons in 25 years, according to CRU, a London-based metals and mining consulting firm. That�s more than the world produces today. Rising demand will create a potential global shortage of 11 million tons a year by 2035, CRU forecasts."
