the mining advocate, page-2

"They expect $70 million free cash flow from native copper before commissioning of the process plant."

No. What the article says is that "the mine has potential to yield significant bonus revenue well before the process plant is fully operational with estimates of up to $70m of free cash flow ...."

Not that they "expect" it.

Also, the company seems to have stopped discussing sales of NCu concentrate grading 90% to 95% , (quarterly p.13), now referring to the output from the crusher as native copper ore to produce a DSO. I thought the original idea, from the metallurgical testing, was for the coarse NCu to be screened off as virtually pure NCu for delivery to the smelters at a premium price?

And the timetable for hand over, although apparently "on schedule" has slipped from May/June 2014 (p.34 of the June quarterly dated 31st July) to August 2014.

So completion has slipped two months in two months. That is not a great rate of progress.

And the costs just get more confusing. The article refers to "the $320m Rocklands copper mine project", but the MPP alone is costing $300m according to the 11th June announcement. Then we have, from the article, $64m of rail and port costs, plus all the drilling, mine development and infrastructure costs which were $107m as at 31st Dec 2012, which gives a total project cost of at least $471m ..... The article's $320m doesn't tie in with the company's announcements.