Ann: Trading Halt, page-19

Surely Cedric raised enough cash only 3.5 months ago to fund the expansion, by how much could the anticipated costs blowout in that timeframe really?

Something else that doesn't stack up...

P3 was supposed to be a bolt-on expansion to double capacity to 400K TPA.

P2 cost $1.054M (excluding duties) - from annual report 06/2017.
Thickening circuit cost (I can't find an exact figure but my estimates are):
$92K - from quarterly 06/2017 under 2.1.a "property, plant, & equipment"
$108K - from quarterly 09/2017 under 2.1.a "property, plant, & equipment"
So $1.254M plus local installation, commissioning, salaries, etc. call it $2M all in.
Does this sound about right?

Granted the expansion includes some retrofitting of P2 but we shouldn't have to build another power sub-station either.

So why is the expansion set to cost $8.5M?

Xinhai were onsite for ages designing & engineering when in my mind it should have been relatively straightforward, we got 20 acres from the GoAP, we gave Xinhai the flick and got Essar involved, we hired a guy named John Clayton as project manager, all this for a bolt-on expansion, I mean we could literally copy the plans for P2 and double capacity for $2M.

So I'm wondering if in fact something larger than 400K TPA is in the pipeline, but then why wouldn't that have been announced to the market yet?

Anyone else got an insight?