The only issue I see with your logic there dave is that the...

The only issue I see with your logic there dave is that the $700/oz cost figure has always been targetted/estimated, never actually confirmed.

i.e. for July

We produced 1,600 ounces of gold at an approximate cost of $720 per ounce.

Whereas at the moment, the $700 targetted cost per ounce could be when the mill is produced 30,000 ounces per annum (2,500 per month) and the *real* cost at the moment per ounce would be something in the area of $1,090 per ounce when producing 1,600 ounces. (((30,000 x $700) / 12) / 1,600) - I think that equation is correct?

Anyway, what i'm getting at is until they actually give some exact numbers on the cost per ounce for a given period, we don't actually know if this targetted cost of $700 per ounce is on the basis of current production, or if it was running at full production (I hope that makes sense).