have we reached the bottom yet, page-39

I just hope Hugh doesn't throw in the towel; sure he's pretty sick of all this. Or that somebody swoops in and grabs $2B in assets for $0.20/share.

Just did a quick calculation:

3,500tpd x 350 days/yr x 75% recovery x 1.4% grade x $2.00/lb (net)

= $50M EBIT/yr, more or less?

Seems that should be enough to sustain the operation, even though these things are notoriously capital intensive.

Hope somebody else doesn't end up reaping the benefits!