tipping competition, page-8

I think we may be missing something with some of our cash flow and NPAT calculations. I've just had a quick look at SMY and MCR's production rate and they are higher than AGM's initial target yet their NPAT is no where near our projections for AGM, even taking into account that their cash cost is almost double.

I also think cash cost of $2.20 per pound or $63/t milled is no longer a figure we can use. Those were figures from Dec 05. I'd say add ~30% more which still brings in a very impressive cash flow.

I'll look into it a bit more when i got some spare time.