it's worth reading again the reasons for the delay from the 1 June announcement
"A number of changes have been made to the plant design and upgrade, which are presently being implemented. These changes will increase the efficiency of the plant and lower the operating cost per tonne. Due to the changes, the timeframe for completion of the upgrade has been increased, now expected to be by the end of September 2010. Whilst the delays are not ideal, management believes the process
changes to be in the best interests of the Company as they will ultimately lead to increased profitability."
now you either believe them or you don't, only time will tell, but the cashflows thus far are very real and are better than the estimates from early in the year: frankly if they can identify further efficiencies that will bear long term benefits but cause a 2 month delay in the upgrade, I think they'd be stupid not to incorporate them...short term pain for long term gain. If they took a shortcut merely in order to meet the original time frame I think it would be a poor business decision. This should be the first of many plants and they need to get it right.
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