Several months ago i heard mgmt say that copper production costs will be zero, not negative 29 cent, b/c of this collapse of cobalt prices.
2) Carl, your basic number for copper is a GROSS profit number, but you can't just proceed straight to a P/E number-- surely there are further costs, such as taxes, overhead, etc., though some depreciation, etc.
Dan, can you help us out with getting to a more reasonable EPS projection?... and i suppose we should be talking about after the first 18 months of copper production, since the other minerals won't be produced til 2H 2013 according to mgmt, whereas copper will be produced sometime in 1H 2013. I also appreciate how tough it is to project EPS when you've got copper price all over the place albeit mitigated with that collar by BAJ on the prices.