quarterly is out, page-81

Only reporting numbers from the boss man :-)
He has issued guidance for the current 1/4 that 300t would be OK to be used by the analysts. Could be more, or less.



'As regards the high teen running cost. It was mentioned that at 22kt it is $14-15 @ 30% fixed and 70% variable so fixed would be about $5 and $10 being variable. so could we assume that the high teen prediction is again based on this ratio 30:70.''

That is one way of looking at it. The other could be that the fixed costs are there if Phase 2 is not running, yielding a very different picture.

Together with the 1/4 report and CF statement it all adds up to more smoke and mirrors, and Eric was on the back foot for most of the Q & A session.

Eric and LYC have the hard data but are very reluctant to disclose anything that the analysts can use and so the shorting will continue = IMO.