Ann: Sandpiper Maiden Statement of Estimated Mine, page-2

re: Ann: Sandpiper Maiden Statement of Estima... Another positive step in the process at Sandpiper but why on earth did MAK feel it necessary to make this statement:

"The NMP reserve calculation uses phosphate prices of USS$119/tonne (nominal) and opex of $65.84/tonne (nominal year 3 costs). These are estimates calculated by NMP management for the purposes of the reserve calculation and are not strictly consistent with the economic parameters used by Minemakers in its economic analysis published on 19 June 2012."

I cannot see what relevance prices have to do with actual reserve calculations. The prices are just used in calculating potential economic value and have nothing whatsover to do with calculating the extent of the reserve and assignation to the appropriate categories - measured, indicated etc. It's irrelevant to the subject of the announcement and seems to highlight again the things that have upset UCL about MAK's conduct as a JV partner. Seems like MAK are again having a dig and signalling intention to destabilise NMP. Grrr.