High prices are the key - its built around $3.00 Cu, $1100 Au so...

High prices are the key - its built around $3.00 Cu, $1100 Au so its only for copper bulls (I am one but still prefer to see conservative assumptions used in a DFS). At $2.50 Cu NPV is roughly halved, and they are also using an 8% discount rate, again not exactly conservative. On the other hand I guess URL has always been predicated on high Cu prices, and has good leverage to a continued move up. Marginal producers can become great swing trading stocks if they have the financial acumen to survive the occasional dip underwater.

But if Finland can get the green light, why not Roseby? From memory, the NPV at $3.00 was well north of $500 million, increase the throughput as they propose and maybe its a $1billion + project. Still looks to me that they have their priorities wrong and putting holders at risk of losing the lot if there is another downturn. Personally I can't see Outokumpu as worth the bother, but I'm guessing that there are some on the Finnish side of the family who are pushing them hard on this.