It all depends what you include in the area of "production...

It all depends what you include in the area of "production costs" in some ways.

We know that wages as a cost of production is going to be a lot cheaper in Bolivia than in FNQ.

We know that energy costs per tonne in Bolivia are probably going to be cheaper than FNQ.

So general production costs could be lot cheaper in Bolivia than elsewhere.

However are there royalty payments to be made ?

We know that once production has been going for so long (just haven't got detail at my fingertips) then RAU has to start making payments to Vista Gold to do the purchase of the lease from them. Are they included as a cost ?

Hopefully the feasibility study will take all those things into account as it should and the profitability of the operation can be demonstrated.