low cost producers, page-3

SMY
according to this quartlerly
cash costs of around USD$8 or AUD$11 - you are right about the $3 mine gate, but then you have to chuck on royalty costs and smelting costs and also minus the by product credits

page 3 of the latest quarterly.

IGO

TOTAL CASH COSTS as follows

cash mining/development costs - $AUD2.59
Other cas costs (milling/royalties/site administration) - $AUD 1.78

= $AUD 4.37 IN TOTAL!



Info sourced from IGO june quarterly page 12 of 28

SMY
07/08 forecast production 15500 tonnes
08/09 forecast is around 23000 tonnes

from 17th july ann.

IGO
07/08 forecase is around 8800-9000 tpa with $4.5 -4.65AUD costs/lb

MCR
Cash costs is AUD$6.50/lb for the year.


AGM
is about $3 USD/lb

DISC: hold MCR overweight, SMY, IGO

recently sold AGM to buy more MCR