armstrong - dog of a deposit, page-6

CSM has had a return on equity over the last 3 years of 40%. Apparently it applies an internal hurdle rate of 20% ROE minimum when assessing new developments or acquisitions. One could only assume that they are expecting 20% from mining the Armstrong Ni deposit. Is it possible that a very professional company like this would not have known of the WMR experience, learnt from it and then got it wrong? I wonder but I would have my doubts. But as others have said, we definately need to know more about this. How does CSM hope to do it different? Any info would be appreciated.