I stopped taking Elmer's word as fact after he was unable to meet any of his deadlines. The most recent example is when he told us 8 weeks ago that "we expect the Mira in 2 weeks". I don't think we can put a lot of weight on a quote from Elmer from a year ago.

Your choice. Regarding the Mira, should be a good reason. And regarding Oct quote how about 5 months ago, from Web's Q&A with Elmer:

2. Are the projected capex costs still within the previous range? Is there going to be inflation in the capex associated with the longer timeline?

A. They expect the numbers to be very close. One thing that can be said about the start up is we can now consider the timelines very achievable. We can’t control some infrastructure cost beyond a certain degree simply because we can control the world events. Some costs are coming down now because things are steadying out.

6. Proposed mill sizes have been 120,000, 150,000 and 180,000 tpd. As this mill size increases, what are the likely increases in capex?

A. No increases. The report takes these into account and gives a snap shot in time. This is in part why the reports are so complex.

8. The 2011 RE stated that Schaft has hard mineralized material, which, in turn, suggests that operating costs are sensitive to the cost of power and grinding media. What is the effect of access to NTL electricity on both Capex and Operating costs?

A. We are about average for a porphyry. We blend the rocks so we can have an average throughput because the mill requires it. This also ties in with what comes out in the concentrates and we know where each bucketful needs to come from to achieve this. As for the NTL over diesel, umm, huge difference.