jtm,whats the point of your post?if anybody needs to be...

jtm,

whats the point of your post?

if anybody needs to be answerable for people predictions it's management.

it's management who have given endless presentations and brr interviews.

it was management who claimed capex of JUST $50 million and an opex of $100/t....they never released the details of the feasability study and only picked out the two low ball figures to try and sell the projects virtues.

it was management who claimed they could truck 3 million tonnes per year to tennant creek.

it was management who claimed they will enter the $1 billion club.

it was management who claimed they had been approached by offtake partners but they declined because they wanted a better price.

it was management who claimed they had been approached by a consortium who would deliver the phosphate from mine to ship.

so how about you contact management and ask them some questions?

much of their claims have been questionable but i guess the risks appeared minimal based on the information at hand.

have shareholders been mislead?.....possibly!

the consortium was likely to have been ATEC who would have simply discussed the mount isa to tennant creek railway with them to gauge the likelyhood of them using the line.

this rail line probably wont be completed until 2015.

was there ever an offtake offer?.....possibly not!

would i be buying now?.....NO CHANCE.

ya win some and ya lose some.

cheers