What is Copper worth in the ground ?
Agnico Eagle are buying into 50% of Tech's Minas de San Nicolas deposit in Zacatecas ,Mexico for
$ 580 million . The mine has a mineral reserve of $105 million tons of 2% copper equivelent
or 4.62 billion lbs. of copper.
Another way of looking at it , assuming a copper price of $ 3 per lb they paid roughly 4% of the gross metal value in the ground.
Very exciting prospects for us shareholders.in Midnight Sun. Nothing but blue skies. Thanks San Nicolas .!