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Redbank Copper released its Development Study for the Redbank project in the Northern Territory. Highlights of the Study include copper cathode of 2,500tpa (99.9% copper metal) with an average operating costs of US$1.40/lb of contained copper. The estimated project revenue of $539m, start up capital for cathode production of $17.25m for a total project capital cost of $54.8m. The NPV of cashflows $93m with an Internal Rate of Return of 68%

Redbank Copper says it has made a new copper discovery at its Copperado prospect in the Northern Territory.The company is exploring the prospect as part of a 50/50 joint venture with Glencore.