fyi

Posting a questions and answer recieved by PL:

Question:

Good Morning Peter,


Further to ASX update provided on Monday are you able to let me know why there are delays with the final BFS i.e why was the 31.05.11 deadline not achieved ?

Response:

Tony ? the delays relate to the joint venture agreement that we are in process of finalising and the fact that there are two factors that could have a material impact on the BFS that are part of the JV ? accessing the farm from the neighbouring farm up dip of garatau and potentially seeing hooperkrantz (our middle farm) be developed before garatau ? frustrating to say the least but the delays have nothing to do with the economics of the project or trying to make it work

Thanks pete

Take out of it what you will but I interpreted it as a reasonable answer and positive. Obviously there are a number of fundamentals to be worked out with the BFS but this should not stop the announcement of the JV when finalised.