Newjo,A small piece of research will show the DFS - Nov 2008...

Newjo,

A small piece of research will show the DFS - Nov 2008 stated the C1 cash operating costs being $1.36/lb. I haven't done the full reading and I'm not sure if gold credits are in that figure.

Given current copper spot prices, $2.16/lb, that's a 80c profit per pound. Hedge some output and you have a profitable business.

The underlying question as pointed out by Mr P.A., will the banks lend to a company with a market cap of $11M? Capital costs in the DFS of 213M, but a slightly better cash position. Last quarterly (Dec) had 1.1m net cash, plus Jan's cap raising of 1.7, plus the 760,000 (before costs), that's net cash in bank of 3.5m, PLUS a possible 20m facility (with some dilution).

So banks thoughts, 213m to fund, current market cap 11m, possible $23m available, what risk future copper prices AND what terms will we set the loans? When does it become nonviable for URL to accept bank terms? 10%? 15?

I know a little about the company and I'm willing to risk my hard earned, but would a new investor(banks due diligence) know enough at this point in time to invest?

We now need a new updated announcement from URL stating their position. A LOT has changed since Nov 08, copper prices, oil (diesel costs), steel cost (mine construction), Labour costs (unemployment, a lot of mine layoffs recently, cheaper staff perhaps), a New updated feasibility study would be a start.