Facts.Interesting facts there are 140mt of tailings rich in Moly at Copper Mt, prior mine didn't install a circuit to recover. 140mt x 0.02% = $1.3 billion in MO in tailings.
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And Porphyry Mt context: Xstrata estimated (0.6% CuEq cutoff) in 2012 a resource of 437 Mt @ 0.58% Cu, 0.073% Mo and 2.4 g/t Ag, = .94% cueq and the system remains wide open at depth, the deepest hole was the best (30-943: 822m at 0.94% Cu and 0.07 Mo), which represents the deepest (and best) hole ever drilled under Porphyry Mtn. That's about 10 billion pounds Cueq or $45 billion in resources.
The oxide pile at Copper Mt is 31.7mt at .35%, at surface, no cost to mine, its right there = 244 million pounds. = $1.1 Billion in resources.
Coper Mt sulphide 3.1 billion pounds another excluding Ag and Mo = $14 billion
total so far = $61.4 billion excluding C and E high grade zones that have a few million tons.
So what is the upside to MC? I see explorers without a resource with Mc equal to ours.
Plus there is Pine Point with 50mt so far worth = $13.5 billion zinc plus lead
Total company wide at grades that make money = $74.9 Billion
I don't know when it rerates but if you believe copper stays above $4 long term and zinc above $1.40 its will happen and in a large way.