todays announcement, page-2

I don't know how that could be bad news.

They are increasing the size of the project's revenue, but are using the same infrastructure that will already be in place for the vanadium operation.

So all they need to add is the direct costs of the iron ore addition and add in all the revenue that will bring as well.

The NPV of this project is heading north all of the time. Naturally they will need time to include this into the BFS, hence the extra time they say it will take.

The market is fast asleep here. Mkt cap still only $60M. And the Chinese are prepared to let their conv notes convert to shares at $5.60 in 2010. And the current price is only $1.05.