Just me moaning again,
Where, in the lastest presentation, does management give their reasons for delaying production for half a year? They hinted that it was due to Christmas Creek coming on line earlier ... That's it. Not good enough. Tell us directly, don't play games with us, don't give us hints. Just come out and tell us why you have delayed production for half a year. If you don't, I can only assume it's due to mis-management. If it's because you don't want to build a 50Km road to Cloud Break then say so. If it's because you have a cosy deal with FMG then tell us.
If management thinks it can shrug this issue to one side, and give it a hazy non-explanatory paragraph (on page 8 of the latest presentation) they are mistaken.
They're going to start production at 3Mtpa in late 2010. Up from starting production at 1.5Mtpa. Wooppee chook. You stated in an earlier announcement that you had planned to ramp up to 3Mt around that time anyway. So all that is missing is the original 1.5Mt. Lucky us.
Management, you should have stuck with your original plan. You should have stayed LOYAL to Tennant Metals firstly. Mike, you may have struck a deal with FMG, but as a shareholder I doubt I'll see it's benefits. And if you've been seduced by Andrew Forrest, are you sure he's going to love you in the morning? Any seduction will be for his OWN benefit. Tennant Metals was your life raft when you were in stormy seas. It's a shame you've cast them over board.
As for this idea to halt production for half a year so you don't have to truck ore another 50Km. Pure drivle, nothing less. Come on Mike, tell us the real reason. And not in the form of hints.
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