I hear you, and believe me I've had a few doubts along the way the last two years as this has dragged on. But in my thinking, the FS would never had gone to review if there were serious issues and it wasn't at least as profitable as the 2008 PFS.

Obviously the FS was not nearly as far along as it should have been in fall 2011 and March 2012 ... and there may have been some change in direction or mine plan at some point, thus bringing in Jim Gray to revamp the plan. If our study was basically still not done or really bad in September 2012, I don't think it would have gone for review - we would have just brought in more consultants and had one more official delay.

This is a really big project - the Ajax FS took Tetra Tech Wardrop 18 months. Ours is likely a bigger project and my guess is that we've had some changes along the way which have stretched our time frame even more.

http://www.tetratech.com/pdfs/64/Case_Study_KGHM_Ajax_Feasibility_Study.pdf

Hard to keep waiting on this. That's why I'm for sure going to the Jan. Cambridge Resource show in Vancouver ... to either congratulate the CUU team, and/or ask a ton of face to face questions on where the heck we are at!