only 30% equity. that's good, page-53

Re: 20% increase in CAPEX costs.

(I think another poster mentioned this, just going to reiterate the point)

2008 - est. CAPEX costs of $US 3.4 billion

2008 - exchange rates:
Jan-Sep varied mid 85-95c ($us/au)
Oct-Dec mid 65-68c

2008 - $AU CAPEX for SDL
Jan-Sep = $3.6-4.0 billion
Oct-Dec = $5.0-5.2 billion

2011 - est. CAPEX to increase by 20% expected $US 4 billion

2011 - exchange rate; currently 99-101c (us/au)

2011 - $AU CAPEX for SDL = $4 billion

Technically total CAPEX $AU will still be in line for a similar amount, only difference is that SDL are going to get a lot more for that price.

High AU dollar as we build and a lower AU as we sell our resource will give SDL the perfect formula for a low cost/high profit company (in $AU)