RE:RE:RE:RE:RE:RE:PEA >5$ per share ? Further the most recent example of massive open-pit low grade mine is First Quantum Minerals in Panama.
The grades are pathetic, but the tonnage is massive.
The Cobre Panama copper mine was estimated to hold 3.14 billion tonnes of proven and probable reserves grading 0.38% copper, 59.38ppm molybdenum, 0.07ppm gold, and 1.27ppm silver, as of December 2019.
Capex was $7billion and in 2019 its inaugural year it produced 47,480 tonnes (t) of copper, 60,074 ounces (oz) of gold, and 1.1 million ounces (Moz) of silver. At full capacity, the mine is estimated to produce 320,000t of copper, 100,000oz of gold, 3,500t of molybdenum, and 1.8Moz of silver a year, over an estimated mine life of 36 years (till year 2054!)
https://www.nsenergybusiness.com/projects/cobre-panama-copper-mine/ https://www.first-quantum.com/English/our-operations/operating-mines/cobre-panama/reserves-and-resources/default.aspx