RE:TD Ups Target Price td says ............Very few new mines enter production at just the right point in the price cycle.
Many mining projects are sanctioned when metal prices are high and more often
than not, they achieve first production at the bottom of the price cycle — which can
play havoc with a project's rate of return. Kamoa-Kakula could well be the exception
to the rule — a mining project that reaches first production into a strong pricing
environment. First ore into the mill is projected for July 2021, just as wide-spread
vaccine deployment is expected to trigger a synchronized global economic recovery
in H2/21. On our price deck, the IRR for the combined first two phases of the Kamoa-
Kakula project is 19.5%.