is higher grade copper coming .., page-6

It is looking pretty obvious that a cost of $1.30 will be very difficult to achieve hence the company is trying to distance itself from this target by not saying anything. Also comments about increasing costs of power,consumables etc are always lead ins to prepare investors for higher costs in the future.

They are now saying costs will decline. I have no doubt that this is true and a market expectation they can achieve.

When project 3000 is working efficiently what will be the ongoing cost. I am looking for around $1.50

The latest report has now focused market attention onto grade

Costs in the latest report were substantailly down from the previous quarter. The cost of milling a ton of ore was down from $49.95 to $40.75 however because of the large fall in grade this was not reflected in unit costs.

The company has said the grade will improve. It is now a question of belief. History of the mine says that over the last 7 quarters only twice has the grade been less than 1.5%, those quarters being the last 2 quarters. The current quarter of 1.08% is way out of line with the rest of the quarters and does look like a annomally.

On the flip side of costs, the price of copper has risen significantly so the company is now much more profitable then 3 months ago

I will hold for the long term and let you daytraders sell out and go somewhere else