Ann: Copper and Gold Intersected in First Holes a, page-4

re: Ann: Copper and Gold Intersected in First... market not happy

i had a look this morning

it is one of those "good but not good enough" announcements

grade seems too low

i would think one would want the grade to be double, that is, at least 0.8%

it is fairly deep also

The long axis of this anomaly has a north?]south extent of 1km and an east?]west width of 0.3km

1,000m x 300m x 150m x 1.6 = 72mt @ 0.4% for 288,000t of metal worth $2b before costs @ $3.50/lb @ 88% mining recovery

although metal is worth $2 billion, what would be the mining cost?