dso crushing underway, page-116

stephenk, as garndo said above, LE stands for light elements. To confirm this, if you look at page one of the 5th August 2013 announcement you will see an XRF analysis which adds up to 100%. See? They can do it sometimes. The legend to the photo explains that LE = light elements.

clivej1902, perhaps you could give us your own ideas as to how the analysis ended up at 130%? I agree that what you have described is unlikely, but something strange happened for it to be exactly 130.000%, somebody has stuffed up somehow, and rushing it for the announcement wouldn't have helped.

cusox, yes, the 56% headline is nonsense until they get the analysis to total 100%.

Jobs were in jeopardy? How bizarre! Where has all this steelwork been since May 2013, when the last of the four shipments was supposed to be embarking China? It was still on schedule as at 30 January 2013 quarterly announcement. Surely it should have all been safely on site well before y/e 2013? And $400m? That is the ridiculous figure which I surmised the project would cost, and was part of the reason I got restricted to three posts a day!

Offtake agreement: roh and BRETTO are wrong. Well, possibly. The offtake agreement announcement of 27/4/11 states explicitly that Oceanwide has committed to purchase a minimum of 60% of the total product from the Rocklands project. So that will include NCu and magnetite. I say "possibly wrong" because the announcement claims that the agreement gives a margin of $805/t on the 200,000t of cobalt concentrate, which cannot be correct. So maybe the details of the offtake are wrong too. One other possible error is that the pricing of the offtakes will be linked to LME prices. As far as I know, magnetite isn't traded or priced on the LME.