The way I see it....Nothing new really was said in this FS. The one big concern is financing of the new mine, its not a forsure thing so I can see the reason for the downgrade until it can be solidified.
Also we have 33 month to build the mine 2012.. so really there is no reason to be all tied up in this stock for 3 years nothing is going to happen until they report earnings in 2012.