No one has any insight only guessing. The presumption that it must be bad news is always first on the agenda.
The Xinhai plan was a bolt on. This plan seems more like a redesigned and improved second plant. Costs can be made up of many factors, IOR are now paying for a dedicated project team plus expenses which were not in place for phase 2 and are in place for phase 3 for all the right reasons just as one example.
Its possible there is good news, now clean up the coffee you all just spat over your keyboards, completion of the phase 2 upgrade would be worthy of a TH...long shot I know and history tells us that this is not likely but there are many possible outcomes.
Unfortunately without more information it is impossible to know what is going on. Sit tight and we will all find out, great news, good news, poor news, bad news, unexpected news, unnecessary trading halt........
IOR Price at posting:
8.7¢ Sentiment: Hold Disclosure: Held
(20min delay)