Ann: Sconi Project in Due Diligence Phase for NAIF funding, page-62

While this is certainly a highly positive source of funding, it is now clear that there is not going to be any short term funding joy.

Completion of the Strategic Assessment stage is promising, but that stage is very 'high level'. It needs to be recognised that all the detailed and important work occurs in the next two stages - with the Due Diligence stage, imo, bound to take 6-12 months and be very costly (and hence the need for the Bergen funds - which now makes sense).

The final stage, Investment Decision, is highly political and impossible to estimate in a time sense. But at the very least, AUZ will need to have all other elements of its funding package fully committed before NAIF makes a final decision.

So the latter part of 2019 before all the ducks are lined up - and that still depends on a satisfactory BFS and securing of sufficient partners.