Ann: Charters Towers Update , page-16

we are given the impression that all the infrastructure is in place for mining the "City" reefs but then we are told that it's going to take about two years to convert these reefs into a super mine (is that a super-phosphate mine? just joking!)

if the infrastructure is in place then why not begin mining one of those City reefs, but no they are going to do a couple of years of tunnelling apparently to connect three reefs

furthermore:

"The initial planning for the reactivation of the City mines is mainly an engineering and desktop process. This initial planning stage is intended to be funded via equity."

so an engineer sitting at a desk planning the development is going to be funded by "equity" - wow, that's illuminating (no strain on the budget there)

as Jim Sinclair would say - if you've got it then get it to the surface and sell it

CTO don't seem to be doing that

wish they would