All the presentation material I can find on Pogo points towards a huge orebody, however the transition to establishing it as an efficient and profitable operation has been clearly underestimated (or may be not). I NST will get it right, but they are running on rapidly diminishing good will to make it happen, when they said they were going to make it happen.
Superpit, ignore. SuperUnderground - think about the extensiveness of the workings under Kalgoorlie, the potential is enormous. I'm thinking NST management would eat that up.
In saying that, I still don't get why they chased EAR when a) Pogo is currently so capital intensive and b) their current reserve replacement cost (and effort) at Kal and Jundee is high and c) any slice of KCGM isnt going to be cheap.
It would be foolish to underestimate NST management, but it appears they are walking a tight tightrope.
Ann: Compulsory Acquisition Notice - Echo Resources Takeover, page-21
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