Warrand,Do you have a view as to why proceeds from sales are...

Warrand,

Do you have a view as to why proceeds from sales are down and cost of production is up so significantly versus the previous quarter and pretty much equivalent volumes? And also where they have paid down the debt? As all i see 193k reduction in their financing cashflow statement.

As you say, the outlook statement is key here. A big positive for me is that they are again looking at building the haul road. I've seen an interview with Jim Shedd previously where he said if they had the funds to do so, it would reduce thier costs by ~$10 per tonne, making them increasingly more competitive with other suppliers and opening much of eastern africa and the middle east as potential customers.