Today's copper price is now greater than $10,100 per tonne (or $4.55lb) and is in fact more than double the copper price used in our updated Pre-Feasibility Study for our 100% owned, Contact Copper Project in Nevada. The 2010 study estimated a 20.2% Investor Rate of Return (IRR) for the project based on a $2.25lb copper price.
I'm anticipating over the coming months issuing a number of news releases as Enexco continues to further develop the Contact project on multiple fronts including expansion drilling; we are also preparing to conduct a Feasibility Study for Contact and to expand our permitting processes.
By implementing our aggressive exploration and development plans combined with strong metal prices, 2011 may be the Company's strongest yet in terms of progressing closer to US copper production. For additional information please reach us directly at 604.669.8368 or visit us at www.enexco.ca
Sincerely,
Arnold Armstrong President International Enexco Ltd.
.
International Enexco is a copper and uranium development stage company based in Canada.
International Enexco holds various exploration projects in Canada.
Its main exploration properties are LOOMIS, HOT POT PROJECT, MANN LAKE, CONTACT COPPER and MANN LAKE (JV) in Canada.