Copper Fox Metals Inc.

He does have facts/logic, but it's narrow in scope.

CAPEX most likely will go up - as it has in the oil and gas industry as well as the mining industry at large, and we've all seen projects be hurt tremendously because of it (Galore, Baja).

But like I said, it's narrow in scope however. Although CAPEX is likely to go up, I do think Palm doesn't consider a lot of other variables such as increased metal prices in both input (prices of machines and what not which will add to CAPEX) but also (and more importantly) to our output (what we're mining, and things like Gold have gone up more than the inflation in the industry). He also leaves out the fact that our resource is larger also contributing to offsetting any inflation. Add to that we should have better starter pits, we should have comparable IRR and payback ultimately giving us a similar if not better NPV.