I believe they used $22 cobalt in their business case, but the average operating cost was $7.73 per lb.

You would have to add non-operating expenses to this, lets say $3.00 per.  If that is reasonable, they could make money even with cobalt at $14, they just would not make as much. Gold and copper by-products would add to the revenues to some extent.

The big unknown, in my opinion, is how much more reserve life an they find once they start digging on the mountain.  Phil, god rest his soul, was of the opinion there was much more than in the feasibility study.

Unfortunately, dilution over the years has killed the golden goose.  You may make some money, but not as much as you would have had they gotten underway 3 or 4 years ago.