RE:RE:RE:100% owned leasesTGB,
I do not know of any UG porphyry that is +1,200m deep grading less than 1% which is economic.
Resolution (RIO/BHPB) has been on hold for years and that is substantially higher grade.
It will require a sustaind high copper price and is a +10-15yr development timeline. Freeport are just looking to bag some lbs to put on the balance sheet for their next generation of copper mines.
if i were cynical, Freeport are looking to drag this exploration programme out, so that when a final feasable study is released so as to satisify their earn-in, the CAPEX is so huge for a combined porphyry and High-Sulphidation deposit development that investors will baulk and run from RMC, or they can simply dillute down RMC's holding as the sums involved will be staggering, think Oyu Tolgoi.
TS