No -you`re absolutely right hindsy -not a good start to 2013!
1.6bn tonnes @30.2% FE 25% cut-off 2.26 bn tonnes @27.6% FE 15% cut-off
Think this 15% cut-off economic with the excellent metallurgy.Stage 3 primarily infill to upgrade the status of certain areas rather than add tonnes so basically what we see now is what we get.
Lay seems to have it about right - LCY timewasting somewhere at or below $20m and HAW saying - if you`re serious it`s $50m with the DSO and the exploration upside thrown in. In reality don`t think LCY can ever be serious with NMDC calling the shots so don`t see a deal. HAW happy going with the gold for now but wouldn`t rule out their Chinese backers getting more hands-on with Mt.B.
HAW Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
