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*this post about Katana in first four paragraphs so please skip if you do not wish to read them*

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Hi Katana.

Even with this great announcement you care more about trying to make other people look bad rather than comment on the results themselves. I think this is a self-defence mechanism but IMO anyone sensible will not think any better of you if you try and make other people look bad for this purpose. Every time something occurs your immediate thought is how to try and use this against me, probably because you feel I have made you look bad, but again, that wasn't my intention, I was just being honest, you really need to try and be less insecure. Do you ever ask yourself why you constanty feel the need to do this and what type of person it makes you? People can still be great people even if everyone cannot be a genius.

How someone could even think I am icred is unfathomable to me. I don't mind the comparison, icred seems like a nice person but how someone could think we are the same person I do not know. Probably you don't believe this but are just trying to find another way to insult me.

Moderators, if this continues could something please be done about this? Katana's intent is quite obvious with each post and normally contains little content apart from insulting various people throughout my time reading HC.

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Okay still with me?

I was thinking it was definitely time for TMR management to release a statement, as from their silence the SP keeps dropping and dropping to ludicrous levels. There appears to be no floor to how low the trend could take it. This is self-indulgent but I have posted this previously:

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["I do not envision this quarterly to be too bad icred... comparatively speaking at least. Aside from the relatively high cost price I am expecting positive things. The copper produced will be well above anything the company has produced before. Grade will be significantly improved, cost price slightly decreased and production through the proverbial roof. The forecasts should be suitable impressive also."

Your notes for the meeting is what I had hoped would be the scenario, improved results this upcoming quarterly but mcuh larger improvements to come in the following two.

They have stated they have had 1 month or 1/3 of the 1/4 at 1.3+%. They have also stated costs are reducing but indicated IMO not by a great deal so far. Increased production is a given, as the last quarterly they did not have 3000tpd for anywhere near the full quarter AND the improved grade will only add to this.]

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As I had thought, the first two months of the quarter were at the same grade as the last quarterly, with the final quarter being over 1.3% as stated, thus bringing up the average quite considerably being, as previously stated 1/3 of 1/4. So we are looking at a grade of 1.16% which is a small improvement but the important thing is it is trending upward and hopefully will continue to do so. As Kawartha and other posters have mentioned, Sept quarter will be the quarter whereby we will have increased grades for a longer period. Actually I was concerned first 2 months of quarter may have lower grade.

Cash costs at the moment stated at 2.15 but be aware this is only for the month of June, so as I have also forecast, cash costs for the quarterly will probably not be so crash hot, in the high 2.20s I will assume. Again though, 2.15 is a nice start as long as this continues to trend downwards.

Production is well up again, which was an obvious assumption given the improvements to infrastructure they have implemented but milling seems to not be as high as it should be? Perhaps alew's comments from EGM notes was a precursor to this.

It's a pretty crappy bounce however, sigh. Well it was okay, before it dropped. But if everything keeps going as planned IMO this will recover.

Could anyone tell me what exactly this comment means however? I do not understand.

"While Mill 10 will not be operating
at full capacity due to a bottleneck at the filters (to be addressed as part of our Project 4000
in 2009), an additional 300-500 tonnes throughput per day will pay for the project in fewer
than three months at current prices."

GL holders, this is good news and I hope we have all made the right decision :)