Good analysis Mark.

I will add one thing. We recently purchased some equpiment made in Germany, priced in Canadian Dollars. Since the Euro has been on a similar slide as the Cdn dollar and the Eurpoean economy is struggling, the equipmnet price in Cdn dollars did not chnage much from the prior year when first quoted.

So, for the Capex - it depends on where the equipment is manufactured.

Also, given the long PEA dealy we have been told that the equipment cost has been reduced in the flow sheet.

So between these two things above we may nmot see mcuh of an increase in the original capex estimates.