23/7/14 webcast - because ur being difficult you can find out...

23/7/14 webcast - because ur being difficult you can find out what point in the 30 minute briefing he said it but the phrase "we are quietly confident" was used to describe the drilling of the hole and they were already at 400-odd metres at that stage. he's not an idiot so I can only assume he was misinformed by his team or they are under pressure for splashing so much cash around on their own and others exploration with nothing much to show for it and need to pull one out fairly quickly.

The 7 year mine life comes from 2012. Best estimate of mine life - from the company - is 2020 so you're already out by one year on your estimate and that's only because as the other poster suggested they are including the inferred resource. I haven't seen them make a significant upgrade from inferred to indicated resource since that announcement 12 months ago (happy to be corrected) so without that you're looking at 2019 at best and that assumes they keep producing at the current grades.

There are plenty of independent experts suggesting it's going to be sooner than that and I stick to my assertion that the end of the mine sees very low grade ore pumped out which is more expensive to mine and to quote the a journalist today - it's in the interest of executives to front end the high grade ore to increase profitability and maximise their personal remuneration. So you can expect the free cash-flow to start to reduce and the company even says that the amount of ore processed from 2015 onwards is likely to decrease based on current estimates.

seems like everyone except you accepts that SFR are incredibly keen to get their hands on more ore in the region otherwise the value of the company starts to decline in line with diminishing cash-flow.