good news, page-22

The Chinese think of 1000 year investments, we think of 1000 seconds if we are lucky. When I bought into plv at $2.40 (and thought I was getting an OK deal) the price of iron was about $60 a ton. Since then it has gone up to about $150 USD a ton spiking close to $200 a ton late last year. Lest we forget, it was only last year that Pluton announced a 54% increase in resource estimate AFTER a 450 percent upgrade to the 294 million tonne Inferred Mineral Resource estimate announced in June 2010.

So the capex has doubled. It was based on a worst case scenario, Australian sourced infrastructure with a required 1 mm grind size; all of which may soon change.

I guess the point I'm trying to make is that over the last few years unforeseen white swans have resulted in a several hundred % increase in fundamental value and black swans have resulted in an 80% falls in share price. Who can predict where will be in 5 years time?