will pop, page-70

JB, a couple of analysts have done that recently and I'm not disputing the potential on paper. I also agree management (in their HO at least) is better than average. As I said before the reality of actually achieving it is very different because so many things can go wrong and often do. I don't believe their resource is strong enough to withstand the enevitable issues that arise along the way (such as the ones they've already had). The mill is not great and neither is their resource. Time will tell but my opinion is that Apex will be remembered as a high cost underground miner with a marginal resource. Things may change if they have some significant hits in the underground and/or they come across another open pit such as the current one.

I'm repeating myself but they had a great opportunity with a exposed quality open pit and the cash they should have put away for the future didn't eventuate. What that pit has done though is enable them to hang in there, they'd be gone already without it.

Not trying to be all doom and gloom, just my view.