RE: TKO - Lower Operation Costs 2013 Hard to say. Real performance shows cost of revenue at 89% in 2008, 71% in 2009, 55% in 2010, and 64% in 2011. This year, it's gone in the wrong direction from 69% (Q1) to 78% (Q2) to 83% (Q3). To put this in perspective, Southern Copper is less than 45%, and Capstone has never been over 60% in any of the last five years. GDP3 is supposed to increase production by around 55% so that should have a very positive impact. However, we don't know where the price of copper is going and Taseko is only protected on about 60% of their share of production at $3 for half the year.