Well not many companies are mining on a large scale at present....

Well not many companies are mining on a large scale at present. We will start in about a year so the IO prices will have an affect. Remember IO prices are set to rise again next year. If they continue at say 8 to 10% p.a Karara will be significantly revalued. However the biggest spike in IO prices will be this year (i could be wrong). Analysts are predicting a continual 8 to 12% p.a after 2008 for the next decade. There are always different analysts with different views, so really its unknown. Really depends on India joining the game.