RE: PEA The following was in the March 31, 2012 quarterly filing re the PEA:
Global carbon recovery in the batch flotation test was 85.9%. The next phase of testing will be in a locked cycle test (LCT) environment designed to improve the global recovery and to provide a flow sheet and operating parameters for use in the Company’s Preliminary Economic Assessment (PEA). The PEA is underway and will be completed in the third quarter.
The RPA engineering study, scheduled to begin upon receipt of the PEA, will assess a series of critical project parameters including mine design and engineering, metallurgical processing, transportation and infrastructure, administration and mine and environmental management.
Gary should have left it the way it was stated in the filing rather than saying June 7th in public. Too many things that are out of his control can cause delays (you'd think he would have learned by now?). If he gets it done early and beats expectations with an announcement he looks like a hero. Not good to create expectations you can't meet and why say one thing in a regulatory filing and a different thing publicly anyway?.