re: Ann: Quarterly Activities Report December... Marv,I'd be...

re: Ann: Quarterly Activities Report December... Marv,

I'd be surprised if cash costs don't come down to the $220-$240 range once they start regular production again at the higher end of their guidance levels.

At the moment they are essentially paying their staff to remove waste or low grade ore in preparation for the step up to peak production, hence the higher costs per ounce.

Even a situation of a $1,500 gold price, $400 costs per ounce and 120,000 ounces for this calendar year your still looking at EPS of $0.69

Best of luck to all.