The accompanying analysis is based on the results of the preliminary economic assessment (PEA) released by the company in Nov 2015. This PEA assumes a conventional open pit operation and a 80kt/d concentrator to produce a clean copper concentrate with an average grade of 27%Cu, 11.5g/t Au and 130g/t Ag. No molybdenum production is expected. The concentrator is expected to process sulphide, mixed and oxide ores. No significant impact is expected from the deleterious elements in the concentrates. The copper concentrate is expected to be shipped through the Matarani port located 598km away. This includes a route of Cotabambas-Challhuahuacho-Espinar-Imata-Arequipa-Matarani port. Some spare parts could be transported from El Callao to Cotabambas 1,195km away.