the company discussed its results this past week in a confrence call. at pirquitas they are now saying that production will be 8-10 million ounces/yr for life of mine, as opposed to the original 10-11 million. the cost of $9/oz will decrease as production increases, and recoveries are expected to reach the 70s next year, and ultimately the 78% of the feasibility study. the oxides are now giving better results than expected, and they will switch to sulfide pit ore in the middle of the 1st quarter 2010. the tin circuit commissioning is underway, and with the higher zinc prices, we could see zinc production in 2011.

they gave their definition of commercial production, which was not entirely clear to me, but it is operating at 70% of capacity 90% of the time over 21 days. in any event, it's a long way from full production.

they are very encouraged in the results at snowfield and especially bluejack. the 2010 exploratory drilling will be 2/3 bluejack and 1/3 snowfield, as bluejack has higher grades, and there is more potential for discovering additional ounces.