Black Swan, you seem to think that now that we have Cockatoo...

Black Swan, you seem to think that now that we have Cockatoo that all is hunky dory. It isn't. We have hardly any cash in the bank and if you've taken the time to read the Oreology report you'd see that Cockatoo is going to be very expensive and still has a lot of question marks over it. There is a reason that Cliffs decided not to pursue it. Cockatoo doesn't appear to be an easy DSO operation and there is a lot that could go wrong. Have a think about where PLV will be if we get strapped for cash. Don't get me wrong, I think Cockatoo is great, but the jury is out on a lot of stuff. For example, if the stage 2/3 highwall cutback turns out to be too dangerous, then the profitability of the proposed operations drops by 50%. Underground? Is this even going to be possible right next to the ocean? Dewatering is an potential hurdle here.

If you think that this decision is obvious and very black and white, then I don't think you have really thought through all of the possible scenarios that lie ahead. This is going to be a difficult project without a partner and I don't see any others offering to help.