first time up grade by huntleys, page-32

Sally Will

Inco estimates Goro will cost them USD1.8biliion to build a 55,000t plant.

HRR will need at least a 55,000t plant. Hence this equates to 1.8/.7 = AUD2.57billion. Hence arhidas will need to do quite alot of chook raffles and walkathons to help raise the funds.

With Voisey Bay, Goro and Ravensthorpe to come on line over the next 5 years, there will be a glut on the market in say 5 years time. So bad luck guys, no one will finance any more new projects.

HRR is NOT on MRE's radar screen. Dont cling to that illusion.