Hello all,

Apparently, the SI board think I am Vette lol. For the record I am not. I am honoured that they think I am him, Vette is an established and honest poster so I will see their comments as a compliment.

Explorationguy is a great poster and an intelligent person for the record, I read his posts when I sometimes check out the SI board. There is a interesting debate regarding the value of SC. Here is a link for the Las Bambas resource:

http://miningalmanac.com/stock/Xstrata-plc-XTA-XTR/properties/Las_Bambas

Copper- 18 billion

Moly- 460 million

Gold- 2 million

Silver- 128 million

Post from Explorationguy

"This is the information I've found on Las Bambas so far. It's a large copper deposit that Glencore must sell when they acquired Xstrata. The only resource estimate I've been able to find is here: miningalmanac.com They list 17.7 billion lbs cu in the M&I categories, which can be compared to the 7.1 billion lbs cu M&I for SC. The estimated value that Glencore could get is noted here: bdlive.co.za
It was also noted that the purchase price will include the amount spent to date on mine construction. Here are the valuations I get:

$ 6 billion to purchase less about $ 3 billion reimbursement for mine construction leaves $ 3 billion to acquire 17.7 billion lbs cu, which comes to 17 cents per lb cu. At SC we get $ 0.17 X 7.1 billion lbs cu or about $ 1.2 billion. CUU's share is .25(1.2) or $ 300 million. That leaves a share price of 300/426 = 70 cents. Then there's the speculative part of the valuation that could get a good boost from the drilling results"

The only problem I have regarding his numbers is he is only taking into account the copper value. I assume the silver, gold, moly, rhenium have all vanished? I guess the value of those metals will not be taken into account. I do like that he realizes the recent drill program will greatly improve the value of SC. The article I read also states at minimum Las Bambas can get 3 billion and up to 5 billion.