HS,
The indicator to a higher than expected JORC or to what they have tabled as their target(s) is of course the proposed 3Mlb/yr processing plant. Clearly they have information that they are unable to disclose until they table the JORC. Now whether the intial JORC for Ross/Barber will reflect what is in store for Total Lance I am not sure. But doubling the processing capacity will certainly reduce the Opex/Lb. As for the Capex best wait for PEN on that, but even the capex should reduce in terms of cost per processed lb.
IMO if they proceed with the 3Mlb plant then by 2012 they will be bringing online not only Ross/Barber but also the other projects. And in my own calculations using the 3Mlbs/yr with a reasonable mine life my estimation is they have close to 100M Lb resource at Lance which is some 25% greater than their current target.
JJ
ready to run, page-14
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