when does the price really really move, page-14

I believe the ERMS components of the plant won't be completed until Jan 2008.

From the Shareholder update 5th Sept:

"It is anticipated that construction of the roasting section of the Plant will be completed in January 2008, and ilmenite roasting operations will commence immediately thereafter. A 2-3 month roasting campaign is planned, during which time at least 550 tonnes of ilmenite will be processed. Discussions are underway to secure a bulk ilmenite sample for commissioning and initial operations, which will be followed by 100 tonnes of ilmenite from BHP Billiton’s Corridor Sands deposit in Mozambique.

Construction of the Ilmenite leaching/calcining section for synrutile production, together with the EARS acid regeneration section (which will include the DRI equipment) is dependent upon equipment delivery and external fabrication schedules, which have longer lead times than previously indicated by the suppliers. The synrutile production campaign is now expected to be completed during the third quarter of 2008."