i'm sure this will disappoint all of the bashers/bears/shorts/yahooligans, but according to this morning's conference call, pirquitas is on schedule and on budget.

higher energy prices will not be an issue. higher tin prices will more than offset rising oil prices, and these have already been factored in. besides, the generators run on natural gas, which is subsidized in argentina. two generators are on site, the third one is being tested and should arrive within a week, a backup diesel generator is also on the way, and the 38km gas pipeline is in place. some 30% of the construction is complete and a critical item, the ball mill, is already in country.

the operations manager said that unless there is an act of god, they are in good shape.