Westcott
I thought as you but when I spoke to Patersons about their report (may 08) they had discarded it as an option. Doesn't make them right but they seem to be well connected with BRM. However I never spoke to BRM as I was more concerned at the time about the cost and ability to upgrade detrital ore.
http://www.brockman.com.au/pdf/reports/broker_reports/PatersonsSecurities9May08.pdf
Page 3 Option 2a
William