re: bfs any day now I'm a process engineer working on...

re: bfs any day now I'm a process engineer working on feasibility studies for other greenfield mining projects. Rising costs is a problem across the board. Raw material suppliers (ie mining companies) are their own worst enemies when it comes to bringing on line new projects, as the cost of equipment has escalated an unbelievable amount. We are finding that estimates go out of date within 3 months now its that bad and it's not just material prices that have gone up - labour has gone through the roof. I'll use myself as an example.. 2 years ago I was earning $60k per year as a process engineer doing exactly the same work that I'm doing now. Now I'm on $230k per year.. and I'm not the only one.. labour has gone up across the board .. why else do you think Perth property has gone through the roof! That aside, these costs all transfer through to the bottom line of new projects and mining companies particularly run risk of producing an estimate one minute but find by the time they go to build the operation that the costs have gone up again.

My gut feel is URL will make money but until I've seen the results of the BFS, I'll wait before jumping back in.

Good luck to all that hold.

Summertime