the worm has turned, page-49

While I think SLR is a medium long term buy the reduction in target costs by 100 per oz has happened with the back drop of a big production cut and thus a big reduction in future earnings. Chasing the higher ore is prudent but one needs to not only assess prod costs over the next 12-18 Months but longer term as well. Mount Monger cost reduction is not a long term saving , it's short term - less than 2 years .