scanspeak, yes, that's exactly what Fosters are saying. I'm not saying they are right or wrong, but they're a hell of a lot more correct than WM saying it costs nothing to extract!
The company have said that it is a complex ore system, using this as an excuse to delay the calculation of a JORC, claiming that the JORC isn't necessarily the best way of evaluating the resource and that even some parts may not be "JORCable". This should ring alarm bells as to how easy it will be to maintain grade control through the plant. "Complex system" means "all over the place", making it difficult to mine only the ore.
I don't know how Fosters can say 10c/lb. They can't possibly have the data to determine an extraction cost. It strikes me it's a bit of publicity seeking on their part, which they certainly got. But WM's trying to make them a scapegoat for a falling sp looks like desperation.
CDU Price at posting:
$2.11 Sentiment: Sell Disclosure: Not Held
