You are correct. Also to add to your past information, in December 2010 in their quarterly report, they didn't say anything about the additional capital raising in fact even after the Jan/Feb 2011 presentations still they were claiming that additional money which were raised back in May 2010 was sufficient to finance the concentrator at the time. I remember at the time UBS and RBS analysts who were attending their presentations did mention that cost blowout would be in the region of $600m.
I guess, there has been history of similar announcements which happened to be inaccurate. This is either due to lack of managerial skills of the people who are running the project or ........
I hope they will sort out these issues as soon as possible.
GBG Price at posting:
14.0¢ Sentiment: None Disclosure: Held
