Ann: Initiation of Research on HCH by EverBlu, page-15

I don't agree for the reasons I posted regarding their strategy CAP's interest in my previous few posts.

The thing I do agree with is: it's all very well to say they will draw ore from three satellite deposits but each is a discrete deposit to be mined so takes all that mine planning following reserve definition.

A compensating factor is if you have one deposit at 2% Cu and the rest of the ore 0.5 % . A hungry mill will accommodate a lot of the halo around the 2% Cu ore. More of the say at 1.3% Cu will make it to through mill sweetening the Productora ore (all dependent on Cu price). You can get some idea of the sharpness of cutoff in the"halo" from the type of mineralisation. (Noting that analyst isn't a geo either). I think some of that is taken up in the analyst's "guesstimate" that 10% will come form the satellites.

All my experience and training mitigates against making those type of guesstimates. I think that stuff is at a less accurate level than scoping studies.