Quarterly report, page-9

That graph really highlights the positive move of the copper price over the last 12 months. The 80c rise from the $2.10 low in September 2016 adds A$130m over the next 2 years ! Even the 40c rise since May adds $65m. Pretty good when you compare that to the current market cap. $3 /lb used to be my "daydream" scenario but now we have got to $2.90 it must be a realistic chance of happening.

It will also be interesting to see when we get some guidance as to what the C1 cost estimate will be for the December quarter and in 2018. You would think with the lower waste ratio and higher grade that they would get well below $1.50 / lb excluding the amortisation charge. Maybe more guidance will be given in the 6 monthly report at the end of this month.

Hopefully they are now digging up the good stuff and the copper price keeps going in the same direction.