Ugh, not what I was hoping for, and not what Elmer seemed to hint at in the AGM presentation. I was hoping for at least break even numbers if not negative numbers to produce a pound of copper.

Boo. Still better than many mines, but these costs really eat into the profits and NPV.

I wonder if we'll stay partners with Teck for a bit - maybe they take their 75%, we keep 25%, and drill the hell out of the waste area stuff next year. Like $50 million in drilling to prove this thing up.

Glad it is no worse, but definitely disappointing and this f&#'s up a quick or very profitable timeline to exit, imho. Will continue to reserve full judgment however.

"LOM copper production total and cash costs per produced pound including mine site operating costs, smelter and refining charges and concentrate transport cost average $2.09/lb and $1.15/lb, respectively."

http://tmx.quotemedia.com/article.php?newsid=56836928&qm_symbol=CUU