I think 20MT wouldn’t be to far off the mark, though maybe at a...

I think 20MT wouldn’t be to far off the mark, though maybe at a lower grade.

But its worth noting that at say production at 1MTpa with 0.8% moly, Merlin would produce around 8000T of Moly, which is equivalent to say 60,000T of Cu. Plus the Rh apparently doubles the value (don’t know much about Rh, but will take IVAs word for it). So Merlin could produce around 120,000t/pa Cu equivalent at a modest 1MTpa. This is similar to Prominent Hill’s output, with out the 1.3 billion in capital outlay and possibly at lower mining and processing costs.

IMO a very valuable resource.

It is also worth noting that this stock was floated (125mill worth) for $2 about a year ago. This is before Merlin was discovered and other favorable results from Mt Elliot (namely 350m at 1.7%cu eq).