@ 20¢ per pound in situthe 2.75 billion pounds in the 237 million tonne category at sinchao would be worth $500 million
with the 3.7 million ozs of gold and 82 million ozs of silver thrown in for free
what's that $6 a share
lets review the norsemont numbers again
ACQUISITION: HudBay sets sights on Norsemont
TEXT SIZE 
canadian mining journal:
TORONTO - HudBay Minerals has set its sights on acquiringNorsemont Mining in a cash and share deal worth $520 million. The deal will bring Norsemont's Constancia copper development project in Peru into the HudBay portfolio. Its addition will boost HudBay's copper production numbers 145% from 2011 levels when it starts up in 2016.
The Constancia copper project has proven and probable reserves of 277.4 million tonnes grading 0.45% Cu, 0.012% Mo, 3.69 g/t Ag and 0.05 g/t Au
so we have norsemont and el morro now as extraordinary precedents
say that would make sinchao worth close to $6 per share..
does mr. rae know this... one has to wonder why he doesn't pick up the phone and let the brokerage community know