Revised Kalman Mo numbers:The Inferred Mineral Resource estimate...

Revised Kalman Mo numbers:

The Inferred Mineral Resource estimate contains a total of 172,200t Cu, 27,800t Mo and 250,900oz Au. (Mo @ $78 kg, $78000 tn)

On current prices that is:

Cu = $1,420,650,000
Mo = $2,168,400,000
Au = $223,301,000

Total IGV = $3,812,351,000
In gold oz = 4,283,540 oz au equiv

Now add in to the previous oz au equiv for San Anton:

6.7m oz au equiv +
4.3m oz au equiv

= 11m oz au equiv

New MC to oz au equiv is:

11m oz into $80m MC = $7.27 an oz au equiv