Uruguay Mineral Exploration

hi and HYN

last year's interims were 16th Jan, so I would expect them to be released at a similar time.

the last RNS stated that Lascano drilling would be complete Feb 2007, so I wouldn't expect news from this yet.

It will be interesting to see if UGY has been able to get cash costs closer to the targeted $265/oz from $332 announced in October.

Significantly, production was hedged until November 2006 as part of the financing of San Gregorio. I don't know the hedged price we have been selling at, but the extra cash flows should be apparent in the H2.