My concern about today's DFS release;
1. Key issue that i want to know is what is the funding plan, the lack of detail in this respect is cause for concern from point of view.
2. $34.4mil owners cost for land acquisition? Is this region the Toorak of Algeria?
3. Three research papers I have which span back to mid 2009, 2 had assumed start up late CY2011 and the third assumed CY2012. So from my point of view I would take the usual delay and I assumed start up late CY2012 to mid CY2013.
4. But instead it is revealed that the decision to mine won't happen until early 2011? Then we have 57 months to construct the project, so mid 2016 at best if they have no delays?
Besides that everything else is sensational, production targets and costs.
Sadly i sold my entire holding today and have set my Outlook Calendar to remind me to look at this again in June 2014.
Good Luck to current holders.
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dfs summary released, page-21
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