Ann: DFS identifies significant operational cost improvements, page-6

Some of the shareholders need to understand that exploration and mine development is not a fast process. To give you an example, the Freida River massive porphyry copper deposits which is one of the biggest and higher grade undeveloped porphyries in the world was first found by MIM in the mid 1960's and even with a detailed and very positive PFS completed  (in fact 2 of them)  is still not commenced construction/mining. By comparison, the pace of GPR on Woodlark is essentially "breakneck" speed. 

Having said that, I think that we are on track for early decision to mine and every thing to date points to improved economics and the high probability of a significant increase in the resource base (remember the exploration target of 5 million extra ounces) which will also seriously enhance the overall economics of the project, and its attraction to financiers. The slippage of a couple of months - whilst a little frustrating - is neither unusual or of concern. In fact, for believers such as myself, it provides the opportunity to buy more shares in a listless market as others get impatient and sell out, whilst at the same time further reducing the perceived risk of the project. In  light of the earlier PFS, I have never had any doubts about the project and the fact that current advice is that they expect to further reduce capital costs and improve operating costs is a bonus. The news that I am more interested in, and likely to get a lot more excited about is the greenfields drilling aimed at increasing our resource base.