KCCCC, page-11

Hi Ducky,

I've checked the web site to make sure you hadn't accidentally left the word "royalties" from your post of the minutes. 

It's definitely not there unfortunately.

It also seems that taxation in Australia is running at close to 30% of GDP

Its anyone guess but $4B worth of copper is a pretty big ask from the known resources. Given the knowledge that has been gained from mining and drilling in this area so far its probably unlikely that the resources estimate is missing too much.

Re; A takeover offer

I do think that the opportunity for a low ball Takeover Bid has past with the 80kt resource surrounding the pit and the haul road access to get to it or alternatively the  possibility of PHES and UG mining further afield.

If those two possibilities prove to be no-goers then we could well be back to 10 to 20 cent range returned in the next two years. Not a 10 bagger but still a nice earner from here.