Ni, Co, Cu, PGM, Au Properties in Ontario Canada

Producing Mines and "state-of-the-art" Mill

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Message: August activity

Re: LBE

posted on Aug 18, 2008 09:23AM

JES How I read it was that at the end of 2008 they will declare commercial production (tax implication being that sales revenue in 2009 will be sales revenue and not applied to development costs). In early 2009 they would be at the lower rich zone which is defined as full production. When they hit that production, costs will decrease down to US$3.50 per lb from likely US$6.00 (grade gets better as they get lower but during development sometimes grades are interrupted because of ramp development etc)

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