cost of productiion $1,200 per oz a real worry

TAM may have huge resources, but we cannot help igonore the cost of production. Companies like RMS have been doing underground mining in similar condition to TAM, and have production costs below $600 per oz.
TAM may well end up producing huge amounts of gold, but if the production costs remain high, there will be no profits to distribute to shareholders.
IMHO the management needs to focus on this point. Even for Sept 2010 qtr when there were no problems of rain, cost of production per oz was over $900!!
Repeated explanations that low quality ore was used is not good enough (is there any high grade ore around at all?)(In the Sept 2010 report, TAM stated that higher quality ore would be used to lower costs, but this never happened)