From page 7 of the Fosters report on BLR:
"We estimate C1 cash costs of (adjusting for milling, transport and royalties) which positions BLR in the bottom quartile of the industry cost curve. It compares favourably to Paladin (PDN.ASX) which at their Langer Heinrich and Kayelekera operations in Namibia are currently producing at $33/lb; and Peninsula Energy (PEN.ASX) Lance project economics (DFS level) located in Wyoming USA highlights opex of ~ $38/lb."
http://www.blackrangeminerals.com/content/wp-content/uploads/2012/06/Fosters-Stockbroking_BLR-Coverage_15Jun12.pdf
Now call me old fashioned - but that is a very basic error of some magnitude....
Apples with apples?
C1 costs for Lance are estimated at $12.94/lb - without any vanadium credits...
You have to wonder how much these guys get paid?
If nothing else, I guess the man from Suisse will be happy!
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