have we reached the bottom yet, page-43

JoeWinters:

"Just did a quick calculation:

3,500tpd x 350 days/yr x 75% recovery x 1.4% grade x $2.00/lb (net)

= $50M EBIT/yr, more or less?"

Mate I'd love this to be true but it seems a long way off. Currently 3000tpd. Aiming for 4000 but lets see them get there before counting on it. $2.00/lb, again I wish. It would be much closer $1.00/lb at the current costs but if they eventually get the costs down to $1.80 (target some time in Q1 09) then I guess that adds 50-60 cents to the margin assuming copper prices hold. In other words I reckon EBIT for Cinabrio will be closer to $20M and therefore company EBIT somewhere south of this.