Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-47

i dont base it on loss of purchasing power - simply the conditions are very pro mining - Pms in particular but all commods

when the 20 year cycle turns up - the engineers, consultants and mine capital item manufacturers all up their ask

stronger the rise in project interest - the more price power they get - the more it costs to get a new mine into production

in 2007 a small mill was going to cost $110m - by 2011 it was $350m - though that was pretty frothy at the tail end

im not sure the bull spirits will be as roaring this cycle - but the capital non investment phase was much worse - no one outside the blue chips could get capital to build

competition for mine builds in shortest possible timeframes will be super fierce