Just went over the Teck Sedar QB2 NI and comparison follows:
Base case Scenarios |
TCK QB II |
CUU |
Stage |
|
PFS Jun-2008 |
NI 43-101 (last update) |
|
Jul-11 |
BFS Project Mgr |
|
Wardrop |
Cu Base Case |
$3.25 |
$2.97 |
Cu Recovery |
|
88.4% |
MO Base Case |
|
$17 |
MO Recovery |
|
71.0% |
Au Base Case |
|
$1,256 |
Au Recovery |
|
81.0% |
Ag Base Case |
|
$20 |
Ag Recovery |
|
71.0% |
|
|
|
Tonnage Proven |
1,436,333,000 |
|
Proven avg Grade |
0.50% |
|
Tonnage Probable |
|
|
Probable avg Grade |
|
|
Tonnage Measured |
744,176,000 |
146,600,000 |
Measured avg Grade |
0.42% |
0.48% |
Tonnage Indicated |
|
1,011,500,000 |
Indicated avg Grade |
|
0.46% |
Tonnage Inferred |
1,806,460,000 |
597,200,000 |
Inferred avg Grade |
0.41% |
0.36% |
Contained Copper lbs |
38,970,118,440 |
16,514,300,000 |
|
|
|
Holes |
1,593 |
286 |
Meters Drilled |
321,799 |
95,962 |
Average Grade CuEq (M&I) |
0.50% |
|
Cu cutoff |
0.30% |
0.15% |
NPV & 5% (after tax) |
|
$2,983,847,000 |
NPV @ 8% (after tax) |
$2,050,000,000 |
$1,597,500,000 |
NPV @ 10% (after tax) |
|
|
IRR |
12.8% |
18.6% |
Avg Annual Cash Flow (after tax) |
$360,325,000 |
$350,000,000 |
Payback period (years, after tax) |
5.8 |
4.9 |
Unit Cash Costs Ttl ($/lb Cu) |
$1.08 |
($0.32) |
Daily Feedrate (tpd) |
135,000 |
120,000 |
LOM (years) |
39 |
23 |
Initial CAPEX |
$5,600,000,000 |
$2,950,406,000 |
Sustaining CAPEX |
|
$797,379,000 |
LOM OPEX ($/tonne ore) |
|
$12.49 |
Annual Cu Production (lbs) |
240,000,000 |
240,000,000 |
|
|
|
Shares (fully diluted) |
|
406,200,000 |
Share Price |
|
$1.17 |
Market Cap |
|
$475,254,000 |
Cash |
|
$3,000,000 |
AMC (Adj MC) |
$0 |
$472,254,000 |
NPV |
|
|
NAV |
|
|
Share $ per lb CU |
$0.0000 |
$0.0286 |
JV Partners |
|
Teck |