Here's mine just for fun...

1 point increase in the exchange rate increases the NPV by 75M

1 point increase in copper price increases the NPV by around 50M.

1 point increase in gold price increases the NPV by around 25M

1 point increase in capital cost reduces the NPV by around 30M

1 point increase in operational cost reduces the NPV by around 40M

The base case gives us a NPV of 513M with an exchange rate of 0.97, copper price of 3.25$US & gold price of 1445USD.

Let`s assume the following values are used for the revised study:

- Exchange rate at 0.83, copper price is 3.08USD & gold price 1310USD.

Therefore:

Exchange rate up 14% compared to base case.

Copper price down 5% compared to base case.

Gold price down 9% points compared to base case.

513M + (14 x 75M) - (5 x 50M) - (9 x 20M) = 1.1B

- Adding 20% more to include the "waste": 200M

- Reducing operational cost by 5% adds 200M

- Reducing capital cost by 10% adds 300M

For a total of 1.8B (base case scenario @ 8%).

I think our numbers will be similar to QB2 for which 30% of the project sold for 1.2B.

Adding to this, let's not forget that most gold projects are sold based on NPV 5%.  As we have plenty of gold, we should get a premium just for that.

MoneyK