Ann: Butcherbird Manganese Project Operational Update, page-32

I kind of expected a weak day again today. Not everyone has the time to be in front of their computers when the announcement is made so I figure some would only see it last night and so today's weakness is just a continuation of yesterday's news settling in. Even so, I thought it is a better reaction than I had feared. I thought we could well see $1 again before some bargain hunting steadied the SP. Assuming they can iron out the issues with stage 1 and get that to nameplate, I think going to stage 2 is still the best option. It is low capex and brings a lot more scale and presumably some bits of the plant will be duplicated so there is also built in redundancy (so the current breakdown would not be so bad). It is also going to bring a heap more cash which will be good for the SP and will also lower dilution when they look to finance stage 3. All IMO and DYOR