Capex
The Mildred mine train project costs were forcast to be 4.2 billion dollars, the project was 80% complete at the end of 2013 as they reported, they say the report was based on hours however I am guessing most of the components should of been in place. If the spend was 80 percent spent they would have budgetd 840 million dollars for 2014, however they budgeted 1320 million dollars.
I am expecting that this project will come in significantly under budget, just like the train movement projects have, as they have not suggested at any point that it is behind schedule or they are concerned about cost over runs.
I expect Capex to be significantly under forecast.
They have too much cash on the balance sheet and we are paying interest costs that could of been avoided.