latest news-talk with alistair cowden by c-tv, page-10

I have seen the video and make the following comments based on the interview:

AC: They have cash and receivables of $35m at end of quarter.(Over $20m?)

Question: How much are outstanding borrowings and creditors?

AC: Guidance for C1 costs for the year has been reduced to $1.60-$1.75/lb.

Question: Didn't the feasibility study in 2010 (for Outokumpu)show C1 costs of $1.33 over the life of the mine. I don't see the reduction in 2012/4 even after accounting for inflation. BTW Capex in the DFS was around $50m. Does the substantial increase in capex TODAY justify increasing mine life by a couple of years after 8 years?
What is the capex and overheads for this year? Any reduction?

AC: Cannot offer guidance on results for current year because of the volatility in metal prices.

Question: Given that the cu price has been hedged up to an equivalent of one years supply, isn't the volatility reduced?

AC: They are doing additional drilling to increase mine life.

Question: Do additional drilling costs and subsequent mine developing costs justify the present value in additional revenue at the end of the current mine life?

AC: (Roseby) They have commissioned consultants to review the cost in the DFS given the changed costs in Australia, with a view to getting a better outcome.

Question: After all, the costs in the DFS are estimates - no one gets it right (eg in Outokumpu - actual costs vs DFS) . Why incur additional consultants costs when the company is not undertaking mine development by itself - leave it to the buyers / development partners to do their own due diligence. I don't expect a great increase in the fair value by doing this exercise.

AC: Level of interest in Roseby fell away but there has been renewed interest in the last month.

Comments: Hopefully the renewed interest will remain after the agm.

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BTW, with these Commodity TV interviews - does the company pay for the interviews?