Ann: Far West recoveries exceed expectations, page-25

Zeeshan,

Over the full Life of Mine I believe it will show as being low cost for the size and type of the operation it is........small underground operation.

It has also been profitable as reported in most quarters. The profitability should continue to increase towards the end of mine life ie diminishing development spend. Obviously a number of variables can alter this, mining conditions, weather, safety and largely commodity prices.

We should not confuse West 45 profitability compared to cash spend on the entire project which is another discussion.