Hi everyone. I've held CRE in my bottom draw for a few yrs...

Hi everyone. I've held CRE in my bottom draw for a few yrs having bought in at 12c. I'm looking to add to my position as share price is very low for a cashed up and unhedged producer. However, can anyone help me please regarding their presumably high cash costs at the moment and how/when they expect to reduce them to $550/600 as per their presentations?

1) Their quarterlies don't explicitly state cash costs per oz or gold price received per oz (should we be worried about that?). However, it appears from the cash flow statements that their cash-costs are higher than revenue received from sales in the past three quarters. So I guess cash costs are currently $900+ per oz?

2) Annual production rate is about 56,000 oz (based on March quarter result). When do they expect to hit 80-90k pa rate as planned? In 2008?

3) They're commissioning a 1.5 Mt pa plant. However, the ore throughput rate is about 1.1 Mt pa at the moment. Do we know when ore throughput will increase to 1.5? Will it all come from Sickle or are other open pits required too?

4) Does anyone know the history of the strip ratio at Sickle? In the lastest quarterly it is said they've reduced it and the remaining ratio is now 1:3.7. How high was it originally? What is the effect moving forward?

5) Is the mine at Laverton a fly-in fly-out situation for employees/contractors?

Sorry for all the questions but I'm trying to get a handle as to how and when CRE will get cash costs down to $550-600 per oz (and whether this is still a realistic target). If / when they do, their earnings will be stupendous especially considering an EV of only $80m or so.

The exploration upside appears to be great (e.g. 90% of drilling at Sickle is < 100m deep) and is mainly why Deutsche Bank invested in CRE presumably.

Thanks alot,
Rowingboat