Chawkey, I think your missing he point. Mgmt would be silly to...

Chawkey, I think your missing he point. Mgmt would be silly to focus on production costs as the information is irrelevant at this point. The focus is on setting the plant up to get recoveries throughput etc sorted and see where costs per oz are at that point.

During this process the plant is ran for the express purpose of experimentation toward optimisation and cost per oz at this point is in no way indicative of what to expect from the plant once in full production.

I see the big risks based on the failure of Macmin to be crusher getting the sizes required, recovery cicruit in general and the final recoveries. If these aspects align, the cost per oz will be as expected. From my interepretation of the report, these boxes have been ticked over the last three months.

Reporting the costs per oz would misrepresent the situation entirely, and as said previously you can calculate a ball ark figure yourself.

I have been in and out of AYN over the last 18 months and have steadily began to place faith in mgmt. This situation is no exception, problems arise, mgmt resolve.