mak's story is intact, page-2

Your points are fair Bagek – I have been a critic of the management, but remain of the belief that the project is viable – though remain a little concerned about distance to Port – significant transport costs, regardless of the fact that there is 1000 km of rail. However the company does – and should - suffer from credibility issues. Their management, up until recently, have made unnecessarily bullish statements and hence some are right to remain sceptical as to recent announcements.
The Project has still a way to go and I remain sceptical – though less so – about recent statements. As an example I do not believe the $150/t to be a “conservative” figure. I suspect it is about right. And the project will prefer a beneficiation plant from Day One – the issue being more whether it can be funded or not. However if the product demand is there and the quality is suitable, the funding will be available.