I presume onyx that you have had a chance to look at the info in...

I presume onyx that you have had a chance to look at the info in the Half-Year report to end of December.

There is this comment in there on page number 5 :
"Due to the slower rates of progress through the graben and a more conservative ramp-up (refer table below), commissioning of the hydro-mining system is now scheduled for June/July 2010."

And therefore the move into full production is now in the July - September 2010 quarter.

For what it is worth a NZ sharebroking firm (Forsyth Barr) has recently put out an advice sheet and recommended PRC as a BUY.

Their view is based on the fact (and remember that at the time their advice sheet was produced PRC's share price was NZ$0.90) that at the then share price (NZ 90 cent) they considered that PRC was trading at a 60% discount to its peers on a FY 2012 basis (first year of full production)

They have also taken into account the fact that BHP Billiton has settled its first quarter coking coal contract at US$200 per tonne.

So taking that into account led to an increased valuation of PRC to NZ$1.41. So they are cautiously optimistic about PRC becoming self sustaining without further mishap.

Hope that helps a bit onyx