back to 40c few months later !!!, page-66

Phantom I agree that unless the resources on Cockatoo are drilled then the NPV of cockatoo is nil. That was the point of the impairment charge and as the auditors said it can be written back up. It's a non-issue. It had to be written down as we have already pre-sold the ore and thus realised it's value. Just looking at all the drill targets on cockatoo tells me there is plenty of ore left.

Rufus we do know what the pre is costing to dig up. From memory it is sub A$55 tonne on a 3 ship per month basis.

Funding is the issue. Rizhao has varied the shipping schedule once already and if we can convince them, or GNR, to vary it again we can deliver ore into the spot market for a while to get some dollars in the tin. I am sure we have options and am still confident of a resolution.

mmartin I'm pretty sure that cockatoo is the main game at the moment and for the foreseeable future.