RE:RE:RE:down 12 percent on small volume450m of 1.07% Cueq is normally isnot worthless, but at a depth of 1,200-2,000m it is very marginal.
I think that with regard to the deep low grade porphyry, the one saving grace is that they will be completing significant development down to 7 or 800m to access the high-grade highsulphidation Cu-Au ore, a lot of the CAPEX would therefore be offset against this part of any future deep mine development, as a result it may work, but it would need a strong copper price.
If you were looking to start form surface to access a 0.5-1.0% Cu body at a depth of 1,200 - 2,000m, it would not be economic at current Cu prices. Think Oyu Tolgoi to get an idea as to the grades required for a block cave operation starting from surface, andthough even OT is not >2,000m.
Focus on the high-grade ore body, this is where the value is, the deep mineralisation is just a distraction for reservoir (not freeport though) as it is such a long way from any development, and im talking 10-15yrs minimum.