just the facts, page-22

Hi 2ic

I was looking at you original post, if your sums are correct.

With the prices for Copper and Nickle down the whole situation would be alot worse but for the Aussie dollar dropping and the fact that cobalt is holding at around $31 US a lb.

Running over your figures with the current metal prices and the Aussie as it is now at .62

..USD/Lb..AUD:USD..AUD/T…prodn (t)…….revenue
Cu 1.70 0.62 6824 3279 $19.5
Ni 4.27 0.62 15934 341 $ 5.1
Co $31.00 0.62 96569 431 $46.8
total revenue from $69.5M to........ $71.4

If this is correct and as stated cobalt holds value, roughly for every 1 cents the Aussie drops it adds approx $1 mill annually to CMR's bottom line just in Cobalt, seems to me that this may be the saving grace of CMR.

Do you agree with this