A new subject soon to come is where did the $2.50 a pound for long term copper come from. If it was the standard 5 years ago and reflected the value you could get from a deposit based of a broader collection of historicals then how does it relate to today? Since neither party has a clear picture of the future I suspect this will be a point of negotiation because our grade is continuing to climb. As our grades improve add 10 cents. Comparing us to higher grade albeit oxide heavy deposits suggests that we should command a higher price. We pollute much less so add 10 cents. Our 60 year acid generation is minimal and in a very good spot where treatment will cost very little. Add 2 cents.

Our contract is to use the lower bench mark so that the cushion is much larger. When you factor in the good and balance this against the bad of the higher grade deposits we start to look a whole lot better. Elmer pointed this out and also said we need to consider nationalization trends. We are clearly one of the safest jurisdictions on the planet where you can be pretty sure about thing for the next 50 years. If we are to give this it's due then add 10 cents. The statistical average of economic pounds discovered is dropping. Add a few more cents. The life of the starter pit is into the decades and we've only drill to about 650 meters vertically. Add a couple more pennies. The current area of discovery has an economical mine life of 50 year min. Add more pennies. The reserves could add another 50 years or allow for scaling up production to meet the projected short falls of supply. Add a few more cents.

You see where this is going.