perspective, page-13

Everything has slipped, that's the point. From DSO reserve to mining rates per annum, the ramp-up to 2mtpa, opex, capex, you name it, it's slipped. Probably even the strip-rate has ballooned.

It says to me management are inexperienced and therefore further unpleasant surprises are more likely than not likely. Combined with sailing into a head-wind on I-O pricing from 2012, significant risk is certainly there.

Pretty disappointing really as it is hardly rocket-science is it? Just basic doing your homework and knowing your game.