Overall, I have to say they've been pretty consistent the last 4 months (see history from recent announcements below). They shot themselves in the foot a bit with the wording/timing in the half-yearly for some reason.
If I read between the lines, construction is due to complete end June/early July, with commissioning taking place soon after. Perhaps the plan was to finish construction mid-June and that has officially slipped into early July or something resulting in the re-wording.
The 2 best bits of recent announcement are: 1. "Construction is proceeding well" 2. "Production will commence in the fourth quarter of 2013"
Exerpts on timelines from recent announcements:
19/12/12: The funds will be used to complete the construction on the Newcastle Iron Recovery Plant during the first half of 2013 with production, sales of recycled iron and hydrochloric acid, and cash flow commencing in the second half 2013.
24/1/13: With funds now in place and the project restarted last week, construction of the plant will be complete by the end of the first half of 2013, with commissioning commencing in the third quarter and production underway in the fourth quarter of 2013.
31/1/13: Construction of the plant will be complete by the end of the first half of 2013, with commissioning commencing in the third quarter and production underway in the fourth quarter of 2013
2/28/13: Construction is scheduled to continue through the first quarter of 2013 and commissioning will commence during the second quarter with operations underway by mid-2013
11/3/13: Construction is proceeding well and will continue through the first half of the year. Commissioning of the Iron Recovery Plant will commence during the third quarter and production will commence in the fourth quarter of 2013.
APG Price at posting:
3.0¢ Sentiment: LT Buy Disclosure: Held
