Ann: Assays for Bulk Ore Processing Trial, page-269

I know the post has been moderated, butwhere do people get this type of information................

"The ore sorter is now on site and will be producing very early next year. "

Absolutely zero evidence of that other than the last quarterly report stating.....

"The unit is due at Rocklands in December 2014."

The previous year we had the statement of DSO sales in Feb/March 2014, via the company's ore-sorter that was, and I quote from the December quarterly....

"Test work on the crushing curcuit focussing on calibration and optimisation requirements of the ore sorter were completed at the end of 2013.
Trial processing and optimisation of ore-sorter has been ongoing since this time."

For SB, you can clearly see why from these types of statements, that it looks like the company's ore-sorter is being tested and optimised by trial processing, nothing about it being a trial ore-sorter. This was after the September quarterly that had stated....
"Ore-sorter arrives at site, being assembled for trial sorting of ore."
"During the quarter the company conducted factory testing of various types of ore-sorters, and after very pleasing results arranged for a unit to be delivered to Rocklands."

"Test work in the immediate term will now concentrate on meeting calibration and optimisation requirements of the ore-sorter, which has arrived at site and is in the process of being assembled at the crushing curcuit, in preparation for trial processing of first ore."

Other than misleading share holders about this being "it" for the ore-sorter (well me anyway), the point is that it arrived in the September quarter, and their were no results from it until the end of April, in the 'post quarter end' section.

In other words it took over 6 months to put it together, calibrate and optimise it, and test it, plus it was a 'focus' ie regarded as important in getting on with it!!
So if the trial ore-sorter took over 6 months to put together and set up, then it's big brother can be expected to take at least the same amount of time, ie OVER 6 MONTHS after arrival; that we still have not been informed about!!
Putting that all together, means first 'nearly' DSO from the ore-sorter, will be running through it in JUNE 2015, with cash from the sales of sorted ore not back until sorting enough, transporting it to port and shipped to China or Korea, so about 6-8 weeks after it is fully operational, taking the cash generated back to August/September 2015.

The ore-sorter will certainly NOT be generating cash early next year.

My previous calculation of needing $30m plus the Sinosteel taking shares for the electricals, I now believe to be the bare minimum, and probably not enough unless there are more sales, ie a million tonnes plus of ore to Glencore in the first half of the year.

I am now coming to the belief that in the April to June period next year, I'll be able to pick up shares in the 50-80c price range, if I want to at the time. Hopefully it will not be a lot less earlier than that.