Ann: Investor Webinar - Market Update, page-186

The major issue I've had the whole time is that there is a change from DFS - capex, timing and output have all changed... A delay by up to one year, a ramp up to production extended by up to one year, and a capex number there is no information about. In this market it wouldn't be unreasonable to add 30% to capex, both materials and labour. So going the "starter plant" approach, may not actually cost much less that the original capex forecast for the full stage one.

Again, all this has a material impact to revenue and NPV so it should have had it's own announcement, and it appears the market aren't accepting the fumbled explanation provided this morning.