Fiendish,
I agree that the issue existed before Ramu, I was merely responding to your post. I agree that DSTD was and is now again being pursued as its probably cheaper. Again my point was that the reasons were obvious and didnt require elaboration.
While I understand your just providing an honest opinion I respectfully disagree that $5-6 a pound is required to make Marengo attractive. At $5-$6 the mine would be clearing silly momey. At $2 billion in capital costs the mines equivelant grade compared with $5 billion dollar mines is attractive. Its all about how much high grade there is for the first 2-3 years.
The devil in the detail is what the Chinese lending terms would be. But as its usually about security of supply and selling services one has cause to be optimistic.
Grade advantage is mine specific and lacking your own model or a company release I can understand your risk aversion.
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