I said at the beginning of last year that I would bet any amount of money that not an ounce of iron ore would be sold from the DSO project in 2012. Not an ounce was sold. Looking at the lack of progress on the project I will re-assert that not an ounce of iron ore will be sold from the DSO project in 2013.

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Just look at the facts. The dome still isn't anywhere near done. Rail construction hasn't begun. There is no port facility in place until mid-2014, when the new multi-user dock at Pointe Noire is scheduled to be completed.

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Watch the progress of the dome and you'll have a good sense of how the DSO project is moving. Target completion date for the dome has shifted from Q4 2011 to Q2 2012 to Q4 2012, and now it's looking like Q2 2013.