quaterly , page-33

A few other thing missing from TAS numbers.

- excellent production results exceeding guidance
- 5M in new cost cutting measures per quarter announced
- average (FY12 to date- that's 6 months TAS) cash costs still well in the green for most except zinc...

at .82c for zinc, 1.87 for copper and 3.12 for nickel...

...their margins for the last 6 mths vs current prices are

+5.41% for zinc, +88% for copper, +181% for nickel

I forecast back in October a 30% reduction in EBIDTA for a net profit for the year of 3-5 million. This is looking bang on provided the AUD doesn't exceed 1.06 for a longer period of time.