policy of hedging 50% at us$1.45/lb copper, page-26

EL:

Great post. Why do you think production will be down? Is it because of the SAG mill breakdown? Or something else?

Let us hope the Friday selldown was in part due to anticipation of the same and that there is no further selling after that.

"We must remember that the company is NOT reducing there FY 09 forecast, therefore reduced Q2 production implies increased H2 production (and therefore also lower H2 costs). We already see that with the shutdown in June effectively transferring production from the June Q to the Sept Q."

Excellent point.