Ann: Chief Executive Officer Announcement , page-22

The biggest problem we all have is that we lack information that would put our minds at ease .

There is a US sliver company GPL that has higher operating costs , but from what I can see positively updates the market on its status. This stock is trading at 60c and not making a profit.

Who do you figure that , when you compare it the approach by the CCU board?

Whilst CCU seems to be taking a different approach with how it keeps us informed . Everything at the moment seems to be pointing in the right direction. Whilst it will be obviously tight for this quarter and the next , we need to fact in the following:

The $17.5m projected costs for this quarter as I understand it have 2 one off costs the "Tailings Pit, and the Retort " which could be total one off costs of $390k (Retort) and Tailings Pit of $?.

If these two one off costs were around the $3m to $4 m mark , plus if they have savings of 17% on staff salaries, and maybe other efficiencies we could be looking at maybe another $500k per quarter . Then if CCU can produce 600,000 oz per quarter the cost of production for the say December quarter could be around $20 to $21 per oz.

Therefore on current silver prices , plus the agreed hedge of $29 per oz of 180k oz this quarter and 120 oz at $29 next quarter and 60k oz at $23.75 plus the rest at say the current silver price of $26.70AUD per oz we could be alright and in the black.

Good luck to all CCU investors.