BOC are not wanted in Panguna, page-76

You should be aware that BCL didn't just pull that costing out of the air. They have been carrying out our re-start estimates almost continuously for the past 20 years. The costs didn't come off the back of a Cornflakes packet. I think I suggested the other day that comparing Masbate with BCL's restart estimate was comparing apples with oranges. You will not get a 15 Mt/y hard rock mining and processing operation running at Panguna for $950M unless you engage in a significant degree of BOOT (power station for example, reagent mixing) contract mining and leasing schemes; one would expect that at some point RTG is going to have to explain exactly what this staged development really means; 15 Mt/y is piffling on this low grade ore and staged development for items such as the tailings pipeline presents technical problems (always solvable at a cost).