Ann: Corporate update , page-7

IMO CBA by only extending for one month either needs a bit more time to come to a decision or they view CCU's operation as on a month by month basis. CBA do not have the rose coloured glasses that shows silver launching into the stratosphere in 2014 but rely on their long term analysis of the silver price which is bleaker than golds for 2014. CBA have their average silver price forecast and AUD/USD exchange rate forecast for 2014 and will be wanting to see that CCU can cut costs and maintain nameplate production for a full 90 day period all the while maintain set recovery rates and thus potential profitability. As for low volume, well it's Xmas and most people stay away from the market due to thin volume.