Sorry, circa 17c per pound.I note a recent transaction in the...

Sorry, circa 17c per pound.
I note a recent transaction in the copper arena values copper in the ground at ballpark 17.5c per pound. I refer to Xstrata's recent $175M bid for Exco's Cloncurry copper project.
The tenements Xstrata have bought contain 1 billion pounds of copper equivalent after taking into account gold by-product. Therefore, 17.5c per pound.
Doing the math, Yellowstone is valued at 4.5c/lb in the ground.
Comparing IRN's Tampakan project? It's got political problems and major security issues and is valued by the Aussie market at 3c/lb of copper at the current IRN share price.