Ann: Replacement Bidder's Statement, page-164

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eyeswideopen

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02/07/18

23:25

Post #: 34095300
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Originally posted by Stefans ↑

@eyeswideopen there is a considerable difference between ability to read and ability to comprehend. Work on the latter and you may be able to see things as they are, not as you wish them to be.
The board approved the development of the project to go ahead.
Capacity 30mtpa, commencement of production December 2020.
Date full production achieved unknown.
Exact quality of the mined ore unknown.
Date detailed plans finalized unknown
Full approvals obtained including indigenous people agreement - status unknown.
Rail plans finalized -status unknown
Timetable of the work schedule given - NO
Cost breakdown of the project available - NO
Life of mine based on proven iron reserves not stated.
Last time I was dwelling into this project the drilling requied to determine where and how to mine was still in progress. I haven't seen any announcements stating that it had been completed.
I am professional and have a few projects experience and my assessment of the project status is sufficient for my purposes.
I don't recommend that you seek professional help, most likely it would be waste of money.
Nothing what I have said on this topic is in disagreement with the announcement quoted and I had read it on the announcement day.
It is a nice bit of propaganda lacking vital details.

I suspect it's purpose was to improve morale of the depressed retail investors. The professionals ignored it.

Expand

This official FMG announcement available on fmg thread.
Your not at a professional level of spinning to save one's on face!
Comprehension is my problem is it?
Read the bold and underlined section (I did for your benefit) in the announcement again.
The new project is coming online in 2020 to supplement the delivery of the Premium Product that will be in market 2019. (From current mines).
Just keep reading the announcement until you comprehend it I suggest.

AGO Price at posting: 4.3¢ Sentiment: Hold Disclosure: Held
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