announcement out

Arafura advises that it is expecting the valuation of the Nolans project and the pre-feasibility estimates of capital and operating costs for the phosphate hosted, rare earths deposit will be completed by the end of September for release in the 4th quarter of 2007. This is later than originally planned due to a number of developments.
1. Significant changes to the plant size due to positive outcomes from the beneficiation process (ASX release 18 July 2007) and further positive implications of this process on recoverable mineral resources (ASX release 19 July & 25 July 2007).
2. The results of high rare earth recoveries (ASX release 23 July 2007) that will reduce the required mining rate which then has implications on downstream transport and processing facilities.
3. Delays in finalising the engineering design because of industry wide constraints on human resources and cost estimations.
4. Difficulty in ascertaining cost escalation factors due to strong global growth in the mining sector.
As a consequence, the valuation of the Nolans project from the pre-feasibility estimation process is not expected to be announced until the 4th quarter of 2007.

Thoughts?????