same info. different conclusions., page-2

That's a fair post, gp. How people interpret announcements differently is certainly fascinating.

For instance, you say that after the NCu/DSO is sold that you think there will be enough cash flow to complete everything, in your opinion. This, in spite of the fact that the company hasn't said that it will be selling any NCu/DSO prior to the rest of the plant being commissioned, that neither you or the company can know how much, or at what cost (including double handling of the ore), those elements can be recovered and that no-one knows how much of the stuff is there.

Your comments on the DFS are reasonable, except that in CDU's case the DFS was finished, or almost finished at significant cost. Why was it not released? OK, you don't need a dfs based on your faith in mgt, but many others do who have seen what happened when a JORC was finally produced after many delays, and might be a bit suspicious when the company doesn't release a dfs. Whilst you might not need a dfs, the company certainly thought that it did.

Delays are an indication of great management? An interesting concept. Not that we have had any explanations of the delays, most of the long lead time plant was supposed to be on site last year with the entire plant commissioned in the first half of 2013 (10th Feb 2012). In the 2012Q1 quarterly mining was expected to start late June early July 2012 only two months hence. Amazingly, on 31st October 2012 they said that infrastructure works were on time - and yet we now see that the ROM pad, necessary for the crushing circuit to be commissioned by 21st December 2012, still isn't finished! With such a strange concept of what "on-time" means, and a blase attitude to being many months late on almost every aspect of mining and plant installation, it isn't surprising that M&G are bailing.

So yes, the world would be a boring place if we all saw things the same way. Good luck with your holdings, but my view (at this point, subject to further delays) is that you won't see the plant fully commissioned until the end of 2014 at the earliest, with no divis until end 2015 - later depending on how the final financing is done.