RE: Tier 120 Aug 2020 07:43
No mention of copper in the report, it looks like the valuation was based on the gold only and restricted to the high grade sulphide zone only, so IMO an underestimate of true mineral value.
A note on the copper, this does have a (substantial) value, but is dealt with as a credit which reduces the AISC (using the TELFER information). This will be of great value to NCM. Our high grade ore plus the copper will give a massive boost to TELFER. I believe these dynamics create an added value, if a bidding war does pop up, NCM will pay a premium to retain this benefit!