RE:RE:RE:RE:RE:new press releaseThis was just my best guess based on information from the website.
Could be wrong.
RD
Existing ORE pile:
iI have reviewed the information about Bull River on the website. Im certainly NOT an analyst and I could be reading the information wrong, so do your own research.
Speaking very basically:
For ease of basic copper value I have NOT included any of the gold / silver / other base metal by product.
Table 14.1 of the Technical report shows at a cutoff of .9 % copper the mine has 2,261,000 Tonne of material with a copper content of 89,545,000 pounds of copper. Using this data then each tonne of material will contain about 39.6 pounds of copper. At $3.50 copper each tonne is worth $138.60.
Table 9.1 and 9.2 of the Bull River project mine description shows a cost of $27/ pound operating cost of each tonne of existing material. $138.6 - $27 = $111/tonne would be the return to the company.
There is 180,000 tonne of existing ore already on site.
180,000 x $111 = $19,980,000 value in the existing ore pile.
Table 9.1 of the Bull River project mine description shows a capital cost of $6.5 million to get the existing ore processed. $19,980,000 - $6,500,000 = $13.5 million complete value to the company.
RD