Jantimot, you are correct in what you say , the company needs to...

Jantimot, you are correct in what you say , the company needs to create some more investor confidence by advising investors before the 28th May the status of the Ball Mill .

Whilst there has been alot of disappointment in recent times, I still maintain that the fundamentals are there, and if the silver price holds and then steadily goes up this has to help CCU . At 13c if you take into account the fundamentals , the current silver price , the hedge book value , COP estimated even in the worst case scenario of the company's estimated cash flow needs for the June quarter of $12.74m and divid that by there target aim of 2.5m oz in a full year of at least 625,000 oz it would work out to be $20.41 oz in COP. If they only produce 500,000 it will be $25.48 which is not good , however the quarterly hedge of 180,000 oz at $29 will help in this quarter as we all know they will not make either of the above production levels. It's the Sept Quarter they need to make of get close to 625,000 oz, with the view that the December quarter will be at 625,000 oz.

Now I am no expert , but I would like to believe that the production costs once they have the Ball Mill in place and fully operational will reduce from this extreme production cost of $20.41 oz .

Like any company once it gets all ( or as many as s single ) the bugs out it should and will strive to get its production costs down. Of course time is the enemy here , I am an optimist and would like to think that this will work its self out.

Plus no one has mentioned the lead component in all this , surely this has to also add to the profit margin.

In the end we all have to invest in the manner that we feel comfortable with. As I have stated recently , I will be taking up the rights issue as I see an upside , even in the Short to Medium term, as I believe I can profit from the rights issue take even if I sell them later at 20c , which I hope and believe will occur in the short term . Plus I don't want Magna to have any form of control which as I have stated earlier is a bigger worry to me personally .

Good luck you all CCU investors this is a testing time of hope and courage of ones own beliefs , rightly or wrongly.