Whilst others like LTR have decide to fully define their resource before building a gigantic mine, CXO have gone another strategy.
The reason CXO has followed the strategy they have is because they haven't got a large single deposit to define like LTR, it is the only strategy option CXO could take really and get to production early...if we had a giant single deposit like PLS and LTR we would be doing the same as them but close to a port.
We have become a bit of a niche player in many respects taking advantage of the situation we have, as Gareth said the other day we can only deal with what the ground presents or words to that effect and its presented small deposits to date...
Cheers Whisky
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