Ann: Hawsons Institutional Placement, page-183

This was a pipe dream when it was CAP, Capex too high.

New management came in, IO price took off, 20mtpa grand plans, punters excited, still waiting BFS since decade or more. It will never get funded.

If you love high grade ore, try a producer like CIA or go FMG for the dividends. Much less risk than this fools gold!

Sorry to be scathing and highly critical but this just another small cap project with way too high capex that will never see production IMO.

Someone more negative than I might even call it a lifestyle company! Certainly kept a few MD's in a salary over the years!