price movement, page-10

3 to 6 months. When their quarterly report shows the money hitting the bank.

I'm more a fundamentalist than a technician, but clearly the chart is showing a channel/sideways fandango pattern. This could take something big to move out of...like a production report and cashflows confirming their operating costs per ounce are on target. Which I doubt they will be; $240/Oz is the life of mine estimate, which won't be met for 2 reasons.

One, they are developing on ore, but are still developing into the deposit. So thats a highly capital intensive phase of the operation, hence a lot of thse costs have to be assessed against the ounces produced from development ore. So it'll be higher.

Secondly, there's probably going to be some tweaking/niggles to be sorted in the plant. These kinds of things can take a bit of time to sort out - look at MBN's Santa Rita project, it's having a torrid time of its commissioning. SRL muffed Hillgrove. Etcetera.

So, yeah...it will take a while for the development spending to come off the produced ounces, and for the plant to hit its optimal performance. So maybe they won't hit that targeted cost per ounce, but even $500/Oz while on development would be the envy of anyone else.