"I'm not sure I know what " drawdown of deferred exploration expenses" means. I surmise Liberty Mines pays for exploration / drilling on an ongoing basis so you'll have to explain more fully what you mean. I don't think it includes taxes but I believe Liberty Mines has a period of time where they have either no taxes or reduced taxed."

There is a balance sheet item that defers exploration/drilling costs as an asset item and is drawn down as an expense item in proportion to the progress of production. For Redwater, this amounts to $19.4m as per the Sept 30, 2007 balance sheet. Divide this number by the estimated pounds of nickel to be extracted from Redwater and that'll give you an idea of what this expense will be on a per pound basis.

Per the financials:
"On July 1, 2007, commercial production was declared and the Company began depleting costs incurred prior to commercial production. The company continues to incur deferred exploration and development expenditures on this property associated with mine development and exploration drilling."