capital costs at approximately $190-million (U.S.), with life-of-mine cash operating costs at about $290 per ounce of gold after start-up. Both estimates are expected to decline within a range of 10 to 15 per cent.

These downward revisions come as co. has completed engineering and most preconstruction infrastructure. Construction mobilization began earlier this month. Declines are attributable to favourable changes in fuel costs, foreign exchange rates, labour markets, material costs, personnel requirements and construction segment resources.

SANDY9:i've been looking at mining in all sectors and prices

have come down significantly, as the example above.

MOL said they could still operate profitably at $13.

I will say this, with the jv and used equipment.. the chu

in operation would definitely be one of the last standing.

Anyone who says what mining costs are going to be,

are guessing at best, cause its all relative now, to

changing prices in energy etc. by the week.

When you have an open pit running at 60,000 to

90,000 tonnes at avg grade .06% with good stripe ratio,

the relevancy becomes you are economic cause you can compete

with the competition.

Thats why i say tcm and mol.. will suck wind compared to

TTQ... WHEN/IF the announcements are made.

PEOPLE WERE talking $10 to $12$ new costs ... now we can go back to $7 to 8$... as fuel mines and moves and

transports