Ann: Phase Two Wet Plant - Component Full Load Testing Continues, page-13

At the end of the day it's progressing without their full attention as management are probably having someone else do the PFS since none of them have experience in the steel industry. They may bring someone on board on the Indian side of the business who knows the industry.

I would say 3-4 years would be a more likely guestimate for the steel mill to materialise, but we will get lots of juicy updates along the way.

The more exciting part at the moment is the PFS for the pellet plant. That should be a lot quicker to materialise than the steel mill.

You could be right though!