CR, page-37

Thanks ausheds, we were discussing the 2013 scoping study and the company has provided two operating costs with respect to that study, >$600 and $650. All bets are off with respect to cost of production now but $450 - $500 is a worry unless the company changes their production split. Sales costs have to be added to production costs so the gap between the total cost of production and the sale price for 50% of product is looking very narrow on the basis of the production split in your previous post. Imagine what the BFS would have looked like had it been released when the company said it would, back in August. The company would be revealing that it made hardly any profit and more likely a loss on 50% of its production, now please buy more shares at 70c. The company took a gamble by delaying the BFS and going ahead with the CR while it tried to lower the production cost and it may pay off. i would comment that the messy BFS and CR and subsequent fall in the share price doesn't show the company in a good light in terms of being in touch with the economics of its operation.