price is being manipulated still, page-11

Funding will depend on two things.

1. Mining Approval - still waiting for SA govt for maybe another month or two IMO

2. BFS - where does hillside live on the c1 cost curve vs the projections for Cu price. The world is still using copper to modernise. Copper producers at the low end of the cost curve will be in the business of supplying copper and Hillside relativities to other producers will determine the risk/sensitivity of profit to commodity prices.

If hillside is competitive with the best competing suppliers on costs and has mining approval, finance will become a mere formality.

Until/unless we have 1. and 2. there might not be a mine but in my assesment both are likely to be delivered in 2014.