4000tpd here we come, page-5

Whats the point gravy

Start up unit costs are higher than the industry average, no surprise there.

Have not demonstrated they can run a profitable company. No surprise their either given most of there activity is exploration on much bigger projects.

Expansion to 4000 tons is very significant. I would much prefer this than your project $1. They are already focused on costs. Cost fell 20% in the last quarter and when grade improves this quarter unit costs will fall. They will never get to $1 though but who cares. $1.40 to $1.50 will do me fine.

This is a small underground mine. It cannot possibly have cost structures equivilant to much bigger mines.

At the end of the day I will be very happy selling items for $3.50 that cost $1.50 and I will be even happier selling 4000 units a quarter instead of 3000

This is also only a minor project in the porfolio. Filipina Grande, armenia and tungsten are much bigger projects