"Toka Tindung can best be described as a retread. It didn"t quite make it the last time around. It was Aurora"s project and was put in suspension in 1999 when gold prices fell to $255/oz."

Colin Loosemore, Archipelago managing director. Archipelago is developing the Toka Tindung project on the island of Sulawesi in Indonesia.

"You could have an average project in Australia and the best management team and it will go ahead. You have the best project but an average management team in Asia and you will struggle."

Rod Hill of WestLB