<SEC-DOCUMENT>0001104659-23-036679.txt : 20230719
<SEC-HEADER>0001104659-23-036679.hdr.sgml : 20230719
<ACCEPTANCE-DATETIME>20230324170055
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-23-036679
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230324

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Metals Acquisition Ltd
		CENTRAL INDEX KEY:			0001950246
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Y9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		3RD FLOOR
		STREET 2:		44 ESPLANADE, ST
		CITY:			ST. HELIER
		STATE:			Y9
		ZIP:			JE4 9WG
		BUSINESS PHONE:		8176989901

	MAIL ADDRESS:	
		STREET 1:		3RD FLOOR
		STREET 2:		44 ESPLANADE, ST
		CITY:			ST. HELIER
		STATE:			Y9
		ZIP:			JE4 9WG
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: left; margin: 0"><IMG SRC="tm2232668d5_correspimg01.jpg" ALT="">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(713) 860-7352&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>willburns@paulhastings.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>VIA EDGAR AND OVERNIGHT DELIVERY</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Energy&nbsp;&amp; Transportation&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, N.E.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; width: 93%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ms.&nbsp;Joanna
    Lam</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr.&nbsp;Raj Rajan</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr.&nbsp;John Coleman</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ms.&nbsp;Anuja A. Majmudar</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ms.&nbsp;Irene Barberena-Meissner</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 7%; padding: 0.25pt 0.25pt 0.25pt 8.5pt; text-indent: -8.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.25pt; width: 93%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Metals Acquisition Limited</B></P>
                                                                 <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Registration Statement on Form&nbsp;F-4</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Filed December&nbsp;23, 2022</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>File No.&nbsp;333-269007</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On behalf of our client, Metals Acquisition
Limited (the &ldquo;<B><I>Company</I></B>&rdquo;), we are submitting this letter in response to the comments of the staff of the
Division of Corporate Finance (the &ldquo;<B><I>Staff</I></B>&rsquo;) of the Securities and Exchange Commission (the
&ldquo;<B><I>Commission</I></B>&rdquo;), conveyed by the letter dated January&nbsp;19, 2023 (the &ldquo;<B><I>Comment
Letter</I></B>&rdquo;), with respect to the above-referenced Registration Statement on Form&nbsp;F-4 (the &ldquo;<B><I>Registration
Statement</I></B>&rdquo;). Concurrently with the submission of this response letter, the Company is filing its first amendment to
the Registration Statement (&ldquo;<B><I>Amendment No.&nbsp;1</I></B>&rdquo;) via EDGAR.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the convenience of the Staff, the numbering
of the paragraphs below corresponds to the numbering of the comment in the Comment Letter, the text of which we have incorporated into
this response letter for convenience in italicized type and which is followed by the Company&rsquo;s response. In the responses below,
page&nbsp;number references are to Amendment No.&nbsp;1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Paul Hastings LLP | 600 Travis Street, Fifty-Eighth Floor | Houston,
TX 77002&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 2in">t: +1. 713.860.7300 | www.paulhastings.com</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Questions and Answers About the Business Combination</U>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>What are the material differences, if any,
in the terms and price of securities issued at the time of the IPO as compared to..., page&nbsp;17</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>1.</I></TD><TD STYLE="text-align: justify"><I>We note your intent to raise approximately
                                            $126 million in the PIPE Financing as well as up to $40 million in other equity issuances
                                            and that the shares to be issued are expected to be &ldquo;substantially similar&rdquo; to
                                            those issued in the IPO. Please update your disclosures to highlight material differences
                                            in the terms and price of securities issued at the time of the IPO compared to the private
                                            placements contemplated at the time of the business combination. In this regard, we note
                                            that the IPO consisted of units that included one ordinary share and one-third of one redeemable
                                            warrant at an offering price of $10.00 per unit but the private placements do not contemplate
                                            the issuance of warrants. Accordingly, disclose the price of the shares to be issued in connection
                                            with the private placements and if MAC&rsquo;s sponsors, directors, officers or their affiliates
                                            will participate in the PIPE Financing. In addition, when disclosing the percentage to be
                                            held by the PIPE Investors throughout your filing, please clarify whether it assumes you
                                            will raise the full US$126 million in the PIPE Financing.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response: </I></B></FONT>The
Company acknowledges the Staff&rsquo;s comments and has revised Amendment No.&nbsp;1 on page&nbsp;17 to clarify that the shares to
be issued in the PIPE Financing are to be identical to the New MAC Ordinary Shares issued in the merger (other than that they will
not include warrants, as did the shares that were issued in the IPO) and on pages&nbsp;16, 30, 35 and elsewhere to clarify the
participation by certain of MAC&rsquo;s officers and that the percentage to be held by the PIPE Investors assumes the full amount of
US$126 million of PIPE Financing is raised.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Q: If I hold MAC Warrants, can I exercise
redemption rights with respect to my warrants? page&nbsp;22</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>2.</I></TD><TD STYLE="text-align: justify"><I>Please clarify whether public shareholders
                                            that redeem their shares will be able to retain their warrants. To the extent they will be
                                            able to retain their warrants, please quantify the value of the warrants, based on recent
                                            trading prices, that may be retained by redeeming stockholders assuming maximum redemptions
                                            and identify any material results risks.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on page&nbsp;22 accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;3</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Summary of the Proxy Statement/Prospectus</U>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Organizational Structure, page&nbsp;2</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>3.</I></TD><TD STYLE="text-align: justify"><I>Please revise your diagram depicting
                                            the organizational structure of New MAC and its subsidiaries immediately after the consummation
                                            of your business combination to disclose the ownership interests held by the initial shareholders,
                                            including sponsor, Green Mountain Metals LLC, and MAC&rsquo;s directors and officers, PIPE
                                            Investors, Glencore, and public shareholders.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on page&nbsp;29 to disclose
the ownership interests held by the initial shareholders, including sponsor, Green Mountain Metals LLC, and MAC&rsquo;s directors and
officers, PIPE Investors, Glencore, and public shareholders.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Summary of Proxy Statement/prospectus</U>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Ownership of New MAC Upon Completion of the
Business Combination, page&nbsp;34</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>4.</I></TD><TD STYLE="text-align: justify"><I>Please revise to expand your disclosures
                                            to include also share ownership in New MAC under the scenario 100% redemptions by public
                                            shareholders, funding the purchase consideration and the potential impact on the business
                                            combination and related transactions.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and respectfully advises the Staff that under the Company&rsquo;s planned
financing for the purchase consideration, the Company would not be able to fund the consideration for the transaction under a 100% redemption
scenario (and, in fact, the 50% redemption scenario represents the maximum amount of redemptions that could occur under which the Company
believes it would be able to close the transaction). Accordingly, the Company requests the Staff&rsquo;s concurrence with its position
that presenting a 100% redemption scenario would not provide investors with any additional meaningful information. In addition, the Company
has revised Amendment No.&nbsp;1 on pages&nbsp;15,  34 and other places where corresponding disclosure appears.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Interests of MAC&rsquo;s Directors and Officers
in the Business Combination, page&nbsp;40</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>5.</I></TD><TD STYLE="text-align: justify"><I>We note your amended and restated
                                            memorandum and articles of association waived the corporate opportunities doctrine. Please
                                            address this potential conflict of interest and whether it impacted your search for an acquisition
                                            target.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on pages&nbsp;19, 40, 72
and 126 to address the waiver and its impact on the search for an acquisition target.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Risk Factors</U>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Risks Relating to MAC and the Business Combination</U>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>The Sponsor and MAC&rsquo;s directors, officers,
advisors and their affiliates may elect to purchase public shares or public warrants..., page&nbsp;82</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>6.</I></TD><TD STYLE="text-align: justify"><I>We note the disclosure that the
                                            Sponsor and MAC&rsquo;s directors, officers, advisors or their affiliates, may purchase public
                                            shares in privately negotiated transactions or in the open market prior to the extraordinary
                                            meeting, although they are under no obligation to do so. You further state that the purpose
                                            of the share purchases &ldquo;could be to vote such shares in favor of the Business Combination.&rdquo;
                                            Please provide your analysis on how such purchases comply with Rule&nbsp;14e-5.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company respectfully acknowledges the Staff&rsquo;s comments and advises the Staff that none of the Sponsor or MAC&rsquo;s
directors, officers, advisors or their affiliates will purchase any public shares prior to the closing of the Business Combination. Certain
of MAC&rsquo;s officers have expressed an interest in participating in the PIPE Financing, but any shares issued in connection therewith
would not have an impact on the vote for the Business Combination because they would not be issued until closing. Accordingly, the Company
has deleted the risk factor in question but acknowledges that to the extent any purchases of public shares are made by such persons,
they must comply with the requirements set out in Compliance and Disclosure Interpretation (&ldquo;C&amp;DI&rdquo;) Question 166.01
related to the list of parameters under which the Staff would permit any such applicable purchases of SPAC securities by the SPAC sponsor
or its affiliates outside of the redemption offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><U>The Business Combination Proposal</U>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><U>Background of the Business Combination, page&nbsp;102</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>7.</I></TD><TD STYLE="text-align: justify"><I>We note your disclosure that MAC
                                            had carried out due diligence on additional Glencore assets that included the CSA Mine which
                                            you refer to as the Alternative Asset Package. You further disclose that on November&nbsp;19,
                                            2021, you submitted a non-binding proposal for the Alternative Asset Package and Phase 1
                                            offer for the CSA Mine. However, your disclosure in this section appears to focus almost
                                            exclusively on the offer for the CSA Mine. Please expand your discussion to describe the
                                            evaluation of the Alternative Asset Package.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 beginning on page&nbsp;106 to
expand the discussion around the evaluation of the Alternative Asset Package.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>8.</I></TD><TD STYLE="text-align: justify"><I>You disclose that on November&nbsp;19, 2021, MAC submitted an
                                            offer comprised of $900 million payable in cash on a cash-free, debt-free basis with a normalized
                                            level of working capital. Please revise your disclosure to summarize the basis for this offer
                                            including any analyses that were utilized to determine this initial valuation.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on page&nbsp;107 to summarize
the basis for the offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>9.</I></TD><TD STYLE="text-align: justify"><I>Please expand the disclosure in this section to include a more
                                            detailed description of the negotiations surrounding the material terms of the business combination
                                            agreement and related transactions. In this regard, we note your disclosure that on January&nbsp;5,
                                            2022, SPB and MAC sent a list of key comments on the Share Sale Agreement to Glencore&rsquo;s
                                            advisors to be shared with Glencore&rsquo;s Australian legal counsel, King&nbsp;&amp; Wood
                                            Mallesons (&ldquo;KWM&rdquo;), and on January&nbsp;11, 2022, Glencore&rsquo;s advisors provided
                                            written responses from KWM to each of the issues raised. We further note your disclosure
                                            that one of the key work streams over the final two weeks of negotiation related to negotiations
                                            on the Offtake Agreement, as it represented a key commercial contract for the transaction.
                                            Your revised disclosure should ensure that investors are able to understand how the terms
                                            of the business combination evolved during negotiations and why MAC&rsquo;s board approved
                                            the initial business combination with CMPL and determined the business combination advisable
                                            and fair to, and in the best interests of, MAC and its shareholders. To the extent that certain
                                            terms were deemed not subject to negotiation, please disclose this fact.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 beginning on page&nbsp;108 to
include a more detailed description of the negotiations surrounding the material terms of the business combination agreement and related
transactions, including specifically with respect to the Offtake Agreement beginning on page&nbsp;110.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>10.</I></TD><TD STYLE="text-align: justify"><I>We note that representatives or
                                            members of management of MAC and Glencore participated in meetings and discussions from December&nbsp;2021
                                            through November&nbsp;2022 to discuss the potential business combination. Revise to clearly
                                            identify the representatives or members of management who participated in the referenced
                                            meetings and discussions. As examples, we note your general references to &ldquo;management,&rdquo;
                                            &ldquo;senior executives,&rdquo; and &ldquo;representatives&rdquo; of MAC and Glencore&rsquo;s
                                            management teams, and to &ldquo;MAC&rdquo; and &ldquo;Glencore.&rdquo;</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1  beginning on page&nbsp;108
to clarify which individuals participated in the referenced meetings and discussions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>11.</I></TD><TD STYLE="text-align: justify"><I>You disclose on page&nbsp;113 that
                                            the MAC Board considered that MAC is acquiring CMPL at a valuation of approximately 4.8x
                                            2022 projected EBITDA, versus a peer group consisting of eleven other copper and base metal
                                            producers that were trading in a range of 3.7x to 9.6x 2022 projected EBITDA, with the lower
                                            multiple peers having assets in less favorable jurisdictions than the CSA Mine. You also
                                            disclose the MAC Board looked at price as a multiple of NAV in precedent transactions and
                                            believes that the proposed acquisition sits toward the lower end of the spectrum when compared
                                            to comparable transactions. Please expand your disclosure to summarize the financial information
                                            relating to the peer group and precedent transactions reviewed by the MAC Board, including
                                            the multiples reviewed and how they were extrapolated. Please consider including this information
                                            in charts. Explain how this data was applied to determine CMPL&rsquo;s enterprise value.
                                            In addition, disclose the criteria used to select the comparable companies and comparable
                                            transactions. We note some of this disclosure appears provided on page&nbsp;115.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response: </I></B></FONT>The
Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on pages&nbsp;119, 121, 122, 123 and 124 to provide
additional disclosure summarizing the financial and other information relating to the peer group and precedent transactions.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>12.</I></TD><TD STYLE="text-align: justify"><I>We note your disclosure on page&nbsp;121 stating that MAC retained
                                            Citi as a capital markets advisor and financial advisor to assist with the Business Combination.
                                            Please revise your disclosure here to describe the role of Citi after the completion of MAC&rsquo;s
                                            initial public offering.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on page&nbsp;128 to describe
the role of Citi after the completion of MAC&rsquo;s initial public offering.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Certain Unaudited Prospective Financial Information, page&nbsp;116</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>13.</I></TD><TD STYLE="text-align: justify"><I>We note your disclosure regarding the financial projections
                                            prepared by MAC&rsquo;s management based on information provided by CMPL. Expand your assumptions
                                            to provide additional details that support the projected consistent revenue growth through
                                            the year ended December&nbsp;31, 2024, followed by a steady decline through the year ended
                                            December&nbsp;31, 2026. Quantify these assumptions as appropriate, and describe the factors
                                            or contingencies considered that would affect the projected growth ultimately materializing.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on page&nbsp;123 to provide
additional disclosure around assumptions to support the revenue projections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;7</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Certain Agreements Related to the Business Combination, page&nbsp;137</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>14.</I></TD><TD STYLE="text-align: justify"><I>Please file all binding documentation, including binding term
                                            sheets and commitment letters, for each of the following agreements:</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>&bull;</I></TD><TD STYLE="text-align: justify"><I>Syndicated facility agreement with the Senior Lenders
                                            and other parties (&ldquo;SFA&rdquo;) to provide a senior syndicate loan facility to MAC-Sub;</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>&bull;</I></TD><TD STYLE="text-align: justify"><I>Mezz Facility agreement for loan facility to be made
                                            available to MAC-Sub (the &ldquo;Mezz Facility&rdquo;);</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Silver Stream Agreement;</I></FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Redemptions Backstop Facility;
and</I></FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Subscription Agreement for
Osisko equity investment.</I></FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Please also file forms of these agreements and related security
agreements when available.</I></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Response:</I></B> The Company
acknowledges the Staff&rsquo;s comment and has revised Amendment No. 1 to include the requested binding documentation, including
binding term sheets and committeemen letters, as well as the final execution versions of the SFA, Mezz Facility, Redemptions Backstop Facility and Silver Stream, including the subscription agreements with Sprott and
Osisko, which the parties thereto executed on February 28, 2023, March 10, 2023, and March 20, 2023, respectively. Once
definitive documentation of the remaining agreements has been executed, the Company will file those agreements  in a subsequent
amendment. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With respect to the security agreements, the Company respectfully
submits that each of the security agreements are agreements made in the ordinary course of business. Under Item 601(b)(10)(ii)&nbsp;of
Regulation S-K, a contract is made in the ordinary course of business &ldquo;if the contract is such as ordinarily accompanies the kind
of business conducted by the registrant and its subsidiaries&rdquo; and is not required to be filed unless the contract falls under certain
enumerated exceptions. While New MAC will rely on the financing that the financing agreements provide, the security agreements themselves
are just technical documents to effectuate the security position that is described in the financing agreements. As such, MAC respectfully
submits that such security agreements do not meet the definition of a material contract under the applicable provisions of Regulation
S-K and therefore are not required to be filed at this time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;8</P>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Certain Agreements Related to the Business Combination Amended
and Restated Registration Rights Agreement, page&nbsp;142</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>15.</I></TD><TD STYLE="text-align: justify"><I>We note that you will enter in an Amended and Restated Registration
                                            Rights Agreement which will require New MAC to register the resale under the Securities Act
                                            shares of your common stock held by the parties to the agreement. Please revise to disclose
                                            the amount of shares of common stock which will be subject to this registration rights agreement.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on page&nbsp;150 to disclose
the amounts and types of securities subject to registration rights.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Unaudited Pro Forma Condensed Combined Financial Information Introduction,
page&nbsp;163</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>16.</I></TD><TD STYLE="text-align: justify"><I>We note that the unaudited pro forma condensed combined financial
                                            information have been derived from the historical unaudited financial statements of Metals
                                            Acquisition Corp for the six months ended June&nbsp;30, 2022. To enhance an investor&rsquo;s
                                            understanding, please revise to include the financial statements of Metals Acquisition Corp
                                            for the six months ended June&nbsp;30, 2022.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Response:</I></B> The Company acknowledges
the Staff&rsquo;s comment and respectfully advises the Staff that it does not believe it has not included the financial statements of
Metals Acquisition Corp for the six months ended June 30, 2022 because the audited financial statements for the year ended December 31,
2022 are now available and thus the unaudited pro forma condensed combined financial information have been updated in Amendment No. 1
based on such audited financials. As a result, the Company advises the Staff that it has revised the F-pages in Amendment No. 1 to include
the audited financial statements for the year ended December 31, 2022. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Note 2 Basis of Presentation, page&nbsp;169</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>17.</I></TD><TD STYLE="text-align: justify"><I>We note you disclosed on page&nbsp;170
                                            that Metals Acquisition Corp (&ldquo;MAC&rdquo;) has considered two redemption scenarios.
                                            However, you presented pro forma condensed combined financial information under a 50% redemption
                                            scenario only. Please address the following:</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Please revise your disclosures
to include a scenario 100% redemptions by public </I></FONT><I>shareholders.</I></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>&bull;</I></TD><TD STYLE="text-align: justify"><I>Considering the varying
                                            outcomes under different scenarios, please expand the pro forma financial statements to give
                                            effect to the business Combination and related transactions under the range of possible scenarios
                                            for all periods presented. Refer to Rule&nbsp;11-02 (a)(10).</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised pro forma financial statements on pages&nbsp;177
through 179 of the Amendment No.&nbsp;1 to include both the impact of the 50% redemption scenario and the no redemption scenario. With
respect to the presentation of a 100% redemptions scenario, the Company respectfully directs the Staff to the Company&rsquo;s response
to Comment 4 above. The Company has revised Note 4 &ndash; Impacts of Alternative Redemption Scenarios on page&nbsp;179 of Amendment
No.&nbsp;1 to explain that in the case the redemptions are higher than 50%, MAC would not be able to fund the consideration for the transaction.
The 100% redemption scenario has not been presented in the pro forma financial statements given it is not a viable outcome, as the transaction
would not close if 100% redemptions occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;9</P>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Note 5 Adjustments to Unaudited Pro Forma
Condensed Combined Financial Information, page&nbsp;172</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>18.</I></TD><TD STYLE="text-align: justify"><I>We note the adjustment (l)&nbsp;to
                                            reflect incremental depreciation expense of $14 million and $28 million for the six months
                                            ended June&nbsp;30, 2022 and year ended December&nbsp;31, 2021 respectively. Please disclose
                                            the changes in depreciation methodology, useful life etc., and expand your disclosures to
                                            provide computation for these pro forma adjustments by asset categories.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Response:</I></B> The Company
acknowledges the Staff&rsquo;s comment and has revised Amendment No. 1 on  184 through 185. The Company advises the Staff that
adjustment (l) is now adjustment (m), and that the note disclosure has been expanded to include the computation of the pro forma
adjustments by asset category and the depreciation methodology used in the calculations. The depreciation methodology is unchanged,
but, as disclosed in Amendment No. 1, the useful life has changed, affecting the incremental depreciation expense. The Company
further advises the Staff that the unaudited pro forma condensed combined financial information in Amendment No. 1 has been updated
based on audited financial statements for the year ended December 31, 2022, and therefore the revised disclosure addresses such
period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>19.</I></TD><TD STYLE="text-align: justify"><I>We note various transaction accounting adjustments in a total
                                            amount of $404 million was credited to additional paid in capital as at June&nbsp;30, 2022.
                                            Please revise your footnote to clearly show, in a tabular format, what individual adjustments
                                            and amounts were included in the calculation of $404 million by including explanation for
                                            each individual amount.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response: </I></B></FONT>The
Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on pages 184 and 185 to clarify the description
of adjustment (l). In addition, the individual adjustments have been presented in a tabular format.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>20.</I></TD><TD STYLE="text-align: justify"><I>We refer to autonomous entity adjustment (s)&nbsp;relating
                                            to the offtake agreement. We also note you disclose on page&nbsp;171 that &ldquo;... the
                                            Offtake Agreement represents an executory contract that will have no accounting impact as
                                            at the date of the acquisition. Delivery of goods and sales earned under the Offtake Agreement
                                            will be recorded in accordance with CMPL&rsquo;s revenue recognition policies when they occur...&rdquo;
                                            Please address the following issues:</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Provide us the supporting calculation
for the $40.0 million in revenue and $10.9 <I>million</I> <I>in distribution and selling expenses for the six months ended June&nbsp;30, 2022 and $82.9 million in revenue and $24.2 million in distribution and selling expenses the year ended December&nbsp;31, 2021. Considering your disclosure that the offtake agreement will have an impact in the future only, demonstrate to us how these adjustments are appropriate.</I></I></FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;10</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><I>&bull;</I></TD><TD STYLE="text-align: justify"><I>We note Registrant (New MAC) was not part of CMPL before
                                            the business combination transaction. Tell us how Registrant (New MAC) met the conditions
                                            in Rule&nbsp;11-01(a)(7)&nbsp;of Regulation S-X and how you concluded that these offtake
                                            agreement adjustments as autonomous entity adjustments are appropriate and comply with Rule&nbsp;11-02(a)(6)(ii)&nbsp;of
                                            Regulation S-X. Revise your disclosures as appropriate.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response: </I></B></FONT>The
Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on pages 186 and 187 to include the
requested supporting calculations.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With respect to the adjustment related to the offtake agreement, the
Company believes that they are appropriate because, as set forth in Notes 1 of the notes to CMPL's financial statements, the CMPL financial statements currently account for an offtake agreement with the
same counterparty that will be the counterparty under the new offtake agreement following the business combination. However, the existing
offtake is based on a price participation (given that it is between related parties within the Glencore family), while the new offtake
agreement is based on benchmark pricing with market-based treatment and refining charges, which is more customary between unrelated third
parties (which the Company and the counterparty will be following the business combination).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The pro forma condensed balance sheet has been
prepared to present the effects of the transaction and all related party trade receivables and payables associated with the historical
offtake agreement will occur immediately prior to and upon consummation of the Business Combination resulting in an adjustment in accordance
with Rule 11-02(a)(6)(i)(A).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The pro forma condensed combined statements of
comprehensive income have accordingly been prepared to present the effects of the new offtake agreement as if it had occurred at the beginning
of the fiscal year presented in accordance with Rule&nbsp;11-02(a)(6)(i)(B). Further, the Company believes that New MAC has met the conditions
in Rule&nbsp;11-01(a)(1), so Rule&nbsp;11-01(a)(7)&nbsp;is not applicable. As such, the autonomous entity adjustments have been removed
and the offtake agreement adjustments have been classified as transaction adjustments. Because the calculations of the adjustments related
to the offtake agreement would require disclosure of terms of the offtake agreement that have been redacted in the exhibit filed with
Amendment No. 1, the Company will supplementally provide those calculations to the Staff.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Business of CMPL, page&nbsp;217</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>21.</I></TD><TD STYLE="text-align: justify"><I>Please disclose the information required by Item 1304(b)(1)(i)&nbsp;with
                                            respect to the property location and property maps.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on page&nbsp;245 to include
the required maps.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>22.</I></TD><TD STYLE="text-align: justify"><I>Please disclose the information required by Item 1304(d)&nbsp;of
                                            Regulation S-K with respect to your mineral resources and mineral reserves including price,
                                            cut-off grades, and metallurgical recoveries.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response: </I></B></FONT>The
Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on pages 233 and 234 to disclose the
information required by Item 1304(d)&nbsp;of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;11</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>23.</I></TD><TD STYLE="text-align: justify"><I>Please disclose the point of reference
                                            used when estimating mineral resources and mineral reserves as required by Item 1304(d)(1)&nbsp;of
                                            Regulation S-K, such as in situ, mill feed, or saleable project, such that marketable materials
                                            may be determined after the application of recovery factors, which should also be disclosed.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response: </I></B></FONT>The
Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on pages 233 and 234 to disclose the
point of reference used &ndash; in situ, dry tonnes on an undiluted basis for resources and in situ, dry tonnes on a diluted basis
for reserves.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>24.</I></TD><TD STYLE="text-align: justify"><I>Please revise to disclose your mineral resources exclusive
                                            of mineral reserves as required by Item 1304(d)(2)&nbsp;of Regulation S-K.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response: </I></B></FONT>The
Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on page&nbsp;233 to disclose mineral resources
exclusive of mineral reserves.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>25.</I></TD><TD STYLE="text-align: justify"><I>Please disclose all information
                                            required by Item 1304(b)(2)&nbsp;of Regulation S-K.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 to disclose all information required
by Item 1304(b)(2)&nbsp;of Regulation S-K.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>26.</I></TD><TD STYLE="text-align: justify"><I>We note your disclosure beginning on page&nbsp;221 that includes
                                            a life-of-mine estimated mining inventory. We note your disclosure that the life-of-mine
                                            inventory includes measured, indicated, and inferred resources, and non-classified estimates
                                            of material. Estimates of mineral inventories are not defined under Item 1300 of Regulation
                                            S-K and therefore are not permitted to be disclosed in your filing. See Item 1302(c)&nbsp;of
                                            Regulation S-K regarding the disclosure of exploration targets. Please revise.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1  accordingly
to remove the information not permitted to be disclosed.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>27.</I></TD><TD STYLE="text-align: justify"><I>Please disclose the information required under Item 1305 of
                                            Regulation S-K with respect to your internal controls.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on pages 234 through 236 to disclose
the required information with respect to internal controls.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;12</P>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Management&rsquo;s Discussion and Analysis of Financial Condition
and Results of Operations of CMPL</U>&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Results of Operations</U>&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Six Months Ended June&nbsp;30, 2022 compared to the Six Months
Ended June&nbsp;30, 2021 Revenue, page&nbsp;241</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>28.</I></TD><TD STYLE="text-align: justify"><I>We note discrepancies in the table
                                            explaining the changes in revenue for the periods presented. For example, the table indicates
                                            that an increase in 6% of Copper revenue was attributed to 11% increase in metal prices and
                                            4% increase in sales volumes rather than 4% decrease in sales volumes. Please resolve these
                                            discrepancies.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><B><I>Response:</I></B> The Company
acknowledges the Staff&rsquo;s comment and respectfully advises the staff that audited financial statements for the year ended
December 31, 2022 are now available. As a result, the Company has revised the table in Amendment No. 1 on page 254 and 255 to reflect
revenues for the years ended December 31, 2022 and December 31, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Management&rsquo;s Discussion and Analysis
of Financial Condition and Results of Operations of CMPL</U>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Capital Expenditures, page&nbsp;244</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>29.</I></TD><TD STYLE="text-align: justify"><I>We note your disclosure that for the six months ended June&nbsp;30,
                                            2022, CMPL&rsquo;s capital expenditures amounted to $41.7 million, with the three largest
                                            costs consisting of ventilation and cooling upgrade, heavy truck refurbishment, and capitalized
                                            development activities. Please expand your disclosures to quantify your material commitments
                                            for capital expenditures as of and subsequent to December&nbsp;31, 2022. Refer to Item 5.B.3
                                            and Item 5.D. of Form&nbsp;20-F.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on page&nbsp;259 to quantify
the material capital commitments as of and subsequent to December&nbsp;31, 2022.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Executive Compensation</U>&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Compensation of Directors and Executive Officers, page&nbsp;267</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>30.</I></TD><TD STYLE="text-align: justify"><I>Please update your compensation disclosure to reflect information
                                            for the last completed fiscal year ended December&nbsp;31, 2022. Refer to Item 4 of Form&nbsp;F-1
                                            and Item 6.B of Form&nbsp;20-F.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on page&nbsp;283 to reflect
information for the last completed fiscal year ended December&nbsp;31, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;13</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Annex C - Form&nbsp;of Amended and Restated Memorandum and Articles
of Association of New MAC, page&nbsp;C-1</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>31.</I></TD><TD STYLE="text-align: justify"><I>We note that your form of amended and restated articles of
                                            association provides that unless you consent in writing to the selection of an alternative
                                            forum, the courts of the Island of Jersey will be the sole and exclusive forum for certain
                                            actions, including any derivative action or proceeding brought on behalf of the Company.
                                            Please disclose whether this provision applies to actions arising under the Securities Act
                                            or Exchange Act. In that regard, we note that Section&nbsp;27 of the Exchange Act creates
                                            exclusive federal jurisdiction over all suits brought to enforce any duty or liability created
                                            by the Exchange Act or the rules&nbsp;and regulations thereunder, and Section&nbsp;22 of
                                            the Securities Act creates concurrent jurisdiction for federal and state courts over all
                                            suits brought to enforce any duty or liability created by the Securities Act or the rules&nbsp;and
                                            regulations thereunder. If the provision applies to Securities Act claims, please also revise
                                            your prospectus to state that there is uncertainty as to whether a court would enforce such
                                            provision and that investors cannot waive compliance with the federal securities laws and
                                            the rules&nbsp;and regulations thereunder. If this provision does not apply to actions arising
                                            under the Securities Act or Exchange Act, please also ensure that the exclusive forum provision
                                            in the governing documents states this clearly.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and respectfully advises that the Company has revised Article&nbsp;40
of its amended and restated memorandum and articles of association set forth as Annex C to Amendment No.&nbsp;1 to provide that the exclusive
forum provision does not apply to any action or suits brought to enforce any liability or duty created by the Securities Act or the Exchange
Act.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Exhibit&nbsp;96.1, page&nbsp;II-3</U></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>32.</I></TD><TD STYLE="text-align: justify"><I>It appears that the purpose of the technical report summary
                                            is to report mineral reserves. Please revise to clearly state whether the purpose of the
                                            technical report summary is to report mineral resources, mineral reserves, or exploration
                                            results as required by Item 601(b)(96)(iii)(B)(2)(ii)&nbsp;of Regulation S-K.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to clarify that its purpose
is to report mineral resources and mineral reserves for the CSA Mine as of December&nbsp;31, 2022.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>33.</I></TD><TD STYLE="text-align: justify"><I>We note that your qualified person(s)&nbsp;has
                                            included language at the beginning of the technical report under the &ldquo;Introduction&rdquo;
                                            heading and at the end of the technical report under the &ldquo;Limitations and Consents&rdquo;
                                            heading that disclaims certain information in the technical report. For example your qualified
                                            person states that any forecast and projections cannot be assured and states they do not
                                            accept any liability to any individual, organization or company and takes no responsibility
                                            for any loss or damage arising from the use of the report, or information, data, or assumptions
                                            contained therein. In order to comply with Item 1302(a)(1)&nbsp;of Regulation S-K disclosure
                                            of exploration results, mineral resources, and mineral reserves must be based on and accurately
                                            reflect information and supporting documentation prepared by a qualified person. Information
                                            should be reviewed and accepted by the qualified person and disclaimers are not permitted
                                            notwithstanding the specific exceptions in which a qualified person may rely. Please revise.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to remove the disclaimers
so that the technical report complies with Item 1302(a)(1)&nbsp;of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;14</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>34.</I></TD><TD STYLE="text-align: justify"><I>We note your disclosure that the CSA mine currently has an
                                            estimated mine life of 15 years, however we also note that the mineral reserve estimate supports
                                            a mine life substantially less than 15 years. In order to comply with the definitions under
                                            Item 1300 of Regulation S-K, and to meet the reporting requirements under Item 1302 of Regulation
                                            S-K, a feasibility study should solely focus on mineral reserves, including the mine life.
                                            A separate technical report summary identified as an initial assessment may be filed in support
                                            of a life of mine plan that supports mineral resources, however the study should not include
                                            other mineralized estimates that are not defined as a mineral resources or mineral reserves.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to separately report mineral
resources and mineral reserves in compliance with the definitions under Item 1300 of Regulation S-K and has removed other mineralized
estimates that are not defined as mineral resources or mineral reserves.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>35.</I></TD><TD STYLE="text-align: justify"><I>Please revise your technical report summary to remove mining
                                            inventories. Only mineral reserves, mineral resources, and exploration targets are defined
                                            under Item 1300 of Regulation S-K and other estimates, such as inventories, should be removed.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to remove mining inventories.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>36.</I></TD><TD STYLE="text-align: justify"><I>We note the disclosure on page&nbsp;3 that the report does
                                            not constitute a legal or technical audit. It appears this language is contrary to the definition
                                            of a feasibility study or preliminary feasibility study as defined under Item 1300 of Regulation
                                            S-K. Please advise.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to remove the non-complying
language and to clarify that the technical report summary is as required for a feasibility study as defined under Item 1300 of Regulation
S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;15</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>37.</I></TD><TD STYLE="text-align: justify"><I>We note your disclosure on page&nbsp;13 and 68 with respect
                                            to the cost estimate accuracy and the contingency levels. It is unclear if the cost accuracy
                                            and contingency levels meet the requirements listed in Table 1 of Item 1302 of Regulation
                                            S-K. Please revise your technical report to clearly state the accuracy level of the capital
                                            and operating cost estimates as required by Item 601(b)(96)(iii)(B)(18)(i)&nbsp;of Regulation
                                            S-K.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to clarify both the accuracy
and contingency levels included in the capital and operating cost estimates as required by Item 601(b)(96)(iii)(B)(18)(i)&nbsp;of Regulation
S-K.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>38.</I></TD><TD STYLE="text-align: justify"><I>We note the disclosure on page&nbsp;13 that the qualified person
                                            considers the forecast reduction in total direct site operating cost to be optimistic. Based
                                            on this disclosure it is unclear if the qualified person agrees with the information reviewed
                                            and the conclusion reached. Please advise and revise the technical report to clarify.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary with cost information
based on recently received actual costs and updated mine plans for 2022 and has clarified that the qualified person agrees with the disclosed
cost information.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>39.</I></TD><TD STYLE="text-align: justify"><I>Please revise to include at least one stratigraphic column
                                            as required by Item 601(b)(96)(iii)(B)(6)(iii)&nbsp;of Regulation S-K.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to include a stratigraphic
column as required by Item 601(b)(96)(iii)(B)(6)(iii)&nbsp;of Regulation S-K.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>40.</I></TD><TD STYLE="text-align: justify"><I>Please revise to include a summary of exploration work as required
                                            by Item 601(b)(96)(iii)(B)(7)&nbsp;of Regulation S-K.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to include a summary of
exploration work as required by Item 601(b)(96)(iii)(B)(7)&nbsp;of Regulation S-K.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>41.</I></TD><TD STYLE="text-align: justify"><I>We note that your Figure 8 on page&nbsp;29 includes exploration
                                            potential. Please revise to ensure all disclosure of exploration potential complies with
                                            the requirements found under Item 1302(c)&nbsp;and is identified as an exploration target.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to remove the exploration
potential.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;16</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>42.</I></TD><TD STYLE="text-align: justify"><I>We note that you do not include
                                            the definitions found under Item 1300 of Regulation S-K with your mineral resources and mineral
                                            reserves, and statements throughout the technical report with respect to JORC compliance.
                                            Please revise your technical report summary to ensure Item 1300 definitions are used throughout
                                            your technical report summary and to include disclosure, if true, that certain items of the
                                            technical report summary were prepared under these definitions.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to remove the references
to JORC, to clarify that Item 1300 definitions are used throughout the technical report summary and to include disclosure that certain
items of the technical report summary were prepared under those definitions.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>43.</I></TD><TD STYLE="text-align: justify"><I>Please revise to include all information required under Item
                                            601(b)(96)(iii)(B)(11) with respect to your mineral resources including, but not limited
                                            to:</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>the selected point of reference
in which the estimates were calculated,</I></FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>the cut-off grade(s)&nbsp;and
metallurgical recovery,</I></FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>the mineral resources reported
exclusive of mineral reserves,</I></FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>a description of the cut-off
grade calculation including commodity pricing and unit-costs,</I></FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>a description of the slope
regression statistic(s)&nbsp;used in the resource classification, and</I></FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>a description of the uncertainty
with respect to the resource estimates.</I></FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to include all of the
information required under Item 601(b)(96)(iii)(B)(11) with respect to the mineral resources.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>44.</I></TD><TD STYLE="text-align: justify"><I>Please revise to include all information required under Item
                                            601(b)(96)(iii)(B)(12) with respect to your mineral reserves including, but not limited to:</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&bull;</I></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>the selected point of reference
in which the estimates are calculated,</I></FONT></TD>
</TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>&bull;</I></TD><TD STYLE="text-align: justify"><I>a description of all assumptions, parameters, and methods
                                            used to estimate mineral reserves, including cut-off grade(s), dilution, losses, and metallurgical
                                            recovery,</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>&bull;</I></TD><TD STYLE="text-align: justify"><I>a description of the cut-off grade calculation including
                                            commodity pricing and unit-costs, and</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>&bull;</I></TD><TD STYLE="text-align: justify"><I>a description of how the mineral reserve estimates
                                            could be materially affected by risk factors associated with or changes to any aspect of
                                            the modifying factors.</I></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to include all of the
information required under Item 601(b)(96)(iii)(B)(12) with respect to the mineral reserves.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;17</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><I>45.</I></TD><TD STYLE="text-align: justify"><I>We note the disclosure on page&nbsp;49 that the qualified person
                                            &ldquo;has reviewed the available geotechnical data, but the most recent specialist geotechnical
                                            consultant report date from 2017.&rdquo; Based on this disclosure it is unclear if the qualified
                                            person agrees with the information reviewed and the conclusion reached. Please advise and
                                            revise the technical report to clarify.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to clarify that the qualified
person agrees with the information reviewed and the conclusion reached.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>46.</I></TD><TD STYLE="text-align: justify"><I>Please revise to include at least one map of the final mine
                                            outline as required by Item 601(b)(96)(iii)(B)(13)(v)&nbsp;of Regulation S-K.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to include an image of
the map of the final mine outline as required by Item 601(b)(96)(iii)(B)(13)(v)&nbsp;of Regulation S-K.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>47.</I></TD><TD STYLE="text-align: justify"><I>We note the disclosure on pages&nbsp;71 and 72 that the qualified
                                            person considers achieving forecasts to be challenging based on increasing depths, ventilation
                                            requirements, and increased development requirements. Based on this disclosure it is unclear
                                            if the qualified person agrees with the information reviewed and the conclusion reached.
                                            Please advise and revise the technical report to clarify.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to focus on mineral reserves
and to clarify that the qualified person agrees with the information reviewed and the conclusion reached.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>48.</I></TD><TD STYLE="text-align: justify"><I>We are unable to locate an economic analysis in your technical
                                            report summary including an annual cash flow analysis. Please revise to include the information
                                            required under Item 601(b)(96)(iii)(B)(19) of Regulation S-K.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised the technical report summary to include an economic
analysis (including a sensitivity analysis) as required under Item 601(b)(96)(iii)(B)(19) of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;18</P>


<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>49.</I></TD><TD STYLE="text-align: justify"><I>Revise your disclosure to show the potential impact of redemptions
                                            on the per share value of the shares owned by non-redeeming shareholders by including a sensitivity
                                            analysis showing a range of redemption scenarios, including minimum, maximum and interim
                                            redemption levels.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and has revised Amendment No.&nbsp;1 on page&nbsp;261 to include
the requested comparative share information. The Company respectfully directs the Staff to the Company&rsquo;s response to Comment 4
above with respect to the Company&rsquo;s belief that it is not necessary for investors to present a 100% redemptions scenario.</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.25in"><I>50.</I></TD><TD STYLE="text-align: justify"><I>With a view toward disclosure,
                                            please tell us whether your sponsor is, is controlled by, or has substantial ties with a
                                            non-U.S. person. Please also tell us whether anyone or any entity associated with or otherwise
                                            involved in the transaction, is, is controlled by, or has substantial ties with a non-U.S.
                                            person. If so, also include risk factor disclosure that addresses how this fact could impact
                                            your ability to complete your initial business combination. For instance, discuss the risk
                                            to investors that you may not be able to complete an initial business combination should
                                            the transaction be subject to review by a U.S. government entity, such as the Committee on
                                            Foreign Investment in the United States (CFIUS), or ultimately prohibited. Further, disclose
                                            that the time necessary for government review of the transaction or a decision to prohibit
                                            the transaction could prevent you from completing an initial business combination and require
                                            you to liquidate. Disclose the consequences of liquidation to investors, such as the losses
                                            of the investment opportunity in a target company, any price appreciation in the combined
                                            company, and the warrants, which would expire worthless.</I></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Response:
</I></B></FONT>The Company acknowledges the Staff&rsquo;s comment and advises the Staff that:</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="text-align: justify">the
                                            Company&rsquo;s sponsor, Green Mountain Metals, LLC, is controlled by non-U.S. persons (including
                                            the Company&rsquo;s Chief Executive Officer, Mr.&nbsp;McMullen and other non-U.S. members
                                            of the Company&rsquo;s management team and board of directors); and</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.25in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="text-align: justify">CMPL,
                                            the target in the business combination, is also controlled by non-U.S. persons, including
                                            its ultimate parent, Glencore plc.</TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">However, the Company respectfully submits
that the control elements attributable to non-U.S. persons does not impact the Company&rsquo;s ability to complete its initial
business combination. Specifically, the Company is acquiring in its initial business combination a non-U.S. asset in a non-U.S.
company controlled by non-U.S. persons. Accordingly, the transaction is not subject to review by a U.S. government entity, including
CFIUS. As disclosed on page&nbsp;127 of Amendment No.&nbsp;1, the Company and CMPL &ldquo;are not aware of any additional regulatory
approvals in either the United States or Australia required for the consummation of the Business Combination other than Australian
foreign investment approval required to effectuate the transactions contemplated by the Share Sale Agreement&rdquo;, and the Company
further notes that such approval has already been obtained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">March 24, 2023&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page&nbsp;19</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the Company respectfully directs
the Staff to the risk factor under the heading &ldquo;<I>If MAC is unable to complete the Business Combination or any other business
combination by August&nbsp;2, 2023 (or such later date as MAC&rsquo;s shareholders may approve), MAC will cease all operations except
for the purpose of winding up, liquidating and dissolving. In such event, third parties may bring claims against MAC and, as a result,
the proceeds held in the Trust Account could be reduced and the per share liquidation price received by shareholders could be less than
$10.00 per share and MAC&rsquo;s warrants will expire worthless.</I>&rdquo; on page&nbsp;83 of Amendment No.&nbsp;1, which discloses
the consequences to the Company&rsquo;s investors of a liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result, the Company respectfully requests
the Staff&rsquo;s concurrence that no additional disclosure should be required in this regard.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">*&#8239;&#8239; *&#8239;&#8239; *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
hope the foregoing answers are responsive to your comments. Please do not hesitate to contact the undersigned at </FONT>(713) 860-7352
(willburns@paulhastings.com) of this firm with any questions or comments regarding this correspondence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Sincerely,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 50%">/s/ R. William Burns</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">R. William Burns</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">of PAUL HASTINGS LLP</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Enclosures</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">cc:</TD><TD>(via e-mail)</TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>Michael James McMullen, Chief Executive Officer, Metals
Acquisition Limited</TD></TR>
                                                                                     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
