Ann: Quarterly Activities Report, page-6

My interpretation differs.R

I believe the reference would be to the revenue side, which currently reflects an operation running at about half the long term output.

I’d have thought total site costs were likely to remain in the current ballpark. Ramp up costs might decrease but clearly ore production (and it’s associated costs) still to increase substantially.

Regardless, thanks to the current nickel price they are nearly mining enough ore to tread water financially and poised to rapidly build some cash if they can get that ore production rate up.

Note that I am no miner, nor accountant.

EL