"MD Mike Young [of BC Iron] had always stated that we moved from...

"MD Mike Young [of BC Iron] had always stated that we moved from 100% ownership of nothing to 50% of something. We had not declared a reserve from our resource until we had an infrastructure solution.”

I see. So that's why our Board, despite having had oodles of money in the past to spend on PIOP, still have not declared a reserve from our resource, and I see now we don't have the money to do it even if we wanted to, but with no reserve I can't understand why Mr Kennedy is spending money publishing an article on the internet talking about us getting into production in 2014 ("and “hopeful” of meeting its previously stated target of entering production in late 2014", source: http://www.internationalresourcejournal.com/brochures/2013/Oct/Flinders_Mines/index.php#4 and the same article in print friendly format at http://www.australianbusinessjournal.com.au/flinders-mines/), but not talking about us getting into production in 2014 in the publications that really matter e.g. the Annual Report and FMS announcements to the ASX. Should I be surprised and not surprised?

Thanks Hone for an informative post.