please explain, page-6

Some good posts. Probably what the U bulls don't like is that Dr J doesn't post bull. There have been delays and he doesn't sugarcoat them. Just gives the facts (never appreciated if counter to fantasy).

A quick summary :
Feb 2007, anounced that subject to PIRSA approvals, should have the feild leach trial plant constructed and operational by the 2nd half of 2007.

Well...the red tape took 2 years !(and SP had to contend with the global meltdown).

Go ahead for the Oban trial plant finally given in March 2009.

May 2010, announced that aiming for commercial production at a rate of up to 200 tonne per annum by late 2010.

....as mentioned by millipede above, the annual report (October 2009) has announced commercial production of up to 500 tonne per annum (the resource is expanding !). A mining and export licence has been applied for such in the hope of fast tracking. In the meantime I imagine construction of the trial mine will commence but no doubt with the full mine facilities being developed.

The late 2010 date is probably beyond the patience of most punters (again no bull from Dr J). However, it's great to see how twitchy the SP has become very recently.

Boring, behind the scenes stuff is further de-risking by CUY (announced in the Oct. annual report) before any construction begins. These include pump tests and further metallurgical tests. Perhaps these will be completed before 2010 ?

I'm waiting with interest (regarding the SP) for an announcement that Oban has been de-risked. De-risking success will surely be the last we see of the 50 cent mark and tiny mc.

Cheers Furii.

Cheers