CJ, the other point you fail to address is these are cash costs. Small FGDS inventory build at end of December but we have no idea of how much concentrate build over past 6 months or so. Both of these would lower COP. I have heard reports of a large buildup of concentrate ready for processing at LAMP. This is the problem we have just using cash outputs to attempt measurement of COP. OK when LAMP running at steady state but we know that is not happening.
Ann: Quarterly Activities Report, page-13
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