RE: Cut-offThat's true L4, however most others are using $1.50 copper on their estimates and when you look at it realistically, not that that matters right now, $1.25 cu is about a 65% discount to market. Even the copper bears are saying with the current supply issues, that being a 3 day supply at current consumption, prices are highly unlikely in the worst slow down to go as low as $2.50. Even if they are wrong and it's $2, at this stage of drilling with just hitting the strike zones in the last drill program the upside from those estimates is considerable.
But then, the market has never seemed to see any upside regardless of what ASD does.