Downside could still be all the way to .10 but I am bettin that .27 is bottom. 25% of 100000 oz is what should go to profit if gold can stay above $1000. Most start up mines are in the same boat and most also always come up with the first year with suprising results from exploration and better than expected profit margins because they tend to put in some better ore than usually planned and already know where to drill the better results. Once the lenders make a killing then the regular ores will start to show and can be added through. Problems with machinery and water infiltration are the ash kickers and no body can predict that. CMM should have an experienced workforce to minimize those concerns. Peru is a wild card.