wonarah project resource increase, mine plan a, page-20

On second reading, I think this announcement is very well done and is an excellent response to the funding crisis facing all developing businesses.

Resource upgrade is spectacular and makes a great headline but its not really of much impact in the 1-3 year timeframe

It seems they've worked hard to bring forward as much DSO information as possible. From comments around the AGM I thought all DSO announcements would be deferred to the March 09.

Officially relegating beneficiation to "stage 2" is smart PR. Capex above $100 would make the whole job look a bit wobbly in the current environment.

I'm suprised and a bit dissapointed at the lack of detail in the capex and opex numbers. But I guess thats 'cos of the all the available details relate to what is now "stage 2".

I also thought we'd see metalurgical results. Again I guess metalurgy for beneficiation is now being downplayed. And we'll have to wait on metalurgy specifically for DSO.

They've got an enourmous task to acheive deliveries in 12 months. But the prospect of a RP ship leave in Dec 2009 is VERY exciting.

Also I think (and hope) the've had to be very conservative on the cost estimates because of the late change emphasis on DSO.