Ann: Bankable Feasibility Study Update, page-24

I concur.

I don't have a problem with delays, per se. They happen. I also don't have a problem with the possible (likely?) shift in focus from refining in Teeside to refining in Tanzania. That may well cost Peak more, but it's a no brainer for the Tanzanian government: any mining country should be looking to maximise the 'value add' done in country, rather than shipping raw ore (or even ore concentrate) overseas. (Are you paying attention, Australia? You flipping well should be.)

No, my problem is with the timing of this announcement. A delay of 6 to 8 weeks should have been known well before now. Making the announcement at the last possible minute is just treating holders with contempt. If I went to my boss on the day a project was due to be delivered to a client and told him that I need another six to eight weeks to finish it off, I would expect to be fired. At the very least, I would expect to be put through the wringer about why this is only being brought to his attention now, and not, say, two weeks ago.

The company should have had a decent idea of how the BFS update was progressing at the start of the month, and should have alerted holders to the impending delay then. That they didn't suggests gross incompetence on somebody's part to me.

Great resource. Shame about management.