what's news....

Useful array of information from todays announcements. Salient points as follows:

- "ultimate mine life of Etango project expected to be well in excess of 20 years" - ok old news but box ticked

- "delineation of two new satellite deposits" - promising in terms of resource expanision plus more exciting still are the Radon Cup results from around Rossingberg

- "consistent achievement of 90% plus metal recoveries in laboratory tests" - expected (?)

- "Etango deposit is a relatively low acid consumer" - hopefully further positive opex implications

- "heap leach processing route is likely to offer lower capital and operating costs compared to a tank base process route" - hopes of material opex decrease through use of alternative processing diminished

- BMN needs third party support to finance the project - so funding and off-take together (no great surprise, expected contribtuions in order of size - (%'s are my own rough guess) strategic partner 50%, debt 30%, equity 20% (TBD)

- decision to seek development partner at "Project level" - some possible hint there as to timing and order of events.

- "the quality of the feasibility work undertaken in 2010 is expected to assist in this process" (perhaps some indication that we may see strategic tie up in advance of BFS. "further updates in first half 2011" but vague on precise timing.

- update on 2010 feasbility work still expected before end of Q4.

- big picture - U scene has warmed up a bit in the interim. All headed in the right direction IMO.