Don Lindsay was talking again today at a Mining and Steel Conference.

He brought up the discussion of the all-in cash costs to say that most companies were under-reporting their actual costs on average about 20%. (I wrote about this earlier--http://agoracom.com/ir/CopperFoxMetals/forums/discussion/topics/570882-all-in-sustaining-cash-cost-measure/messages/1794020)

He said, "investors use the cost-curve to frame their thoughts on what is an appropriate long-term price." Because of the general under-reporting of costs the consensus views currently suggest that the price should be around $2.50 to $2.75 per pound. However, when you add in that 20% the right long-term price would be closer to $3-$3.25 per pound. Then, if you add in the sustaining capital, which he said should be included, the price comes closer to $3.25 to $3.50 per pound.

He also said that Teck was broadly diversified but with a strong Canadian base. Their copper, he said, had the potential to double in the next 5 or 6 years.

He was asked about QB2, and talked it up saying how much they wish they could get it into production. But, he also said they were about 18 months away from making a decision on that and he actually didn't sound so positive. He said something about how they know there is a lot more there than has been shown so far.