I suppose this is worth less than $2?

Er, ah, nope, seems someone valued it much higher.

• Reserves of over 300 million tonnes grading 0.359% copper and 0.274 g/t gold provide for a 14 year project life at a milling rate of 60,000 tonnes per day.
• Pre production period of only four months during which 1.8 million tonnes of rock and overburden would be relocated. The orebody is exposed at surface resulting in a comparatively limited pre production phase.
• Recovered metal in concentrate would total 2.08 billion lbs copper and 1.324 million oz gold.
• After tax IRR of 15.7% at metal prices of US$2.20/lb copper, US$900/oz gold, US$12.00/oz silver, and exchange rate of CDN$1 to US$0.90. Project payback is 4.58 years. Life of mine production cost per pound of copper at these prices, taking silver and gold as credit, is US$1.22. Capital cost is C$443 million.
• At the October 2010 monthly average metal prices of US$3.76/lb copper, US$1342.60/oz gold, US$23.39/oz silver, and an exchange rate of CDN$1 to US$0.982, the project IRR after tax is 37.9%. The project payback is 1.87 years. Life of mine production cost per pound of copper at these prices, taking silver and gold as credit, is US$1.15.
• The planned pit is approx. 1.8 km long and up to 1,000 metres wide with two main zones: the Main zone and the East zone.