Ann: Baseline Environmental Fieldwork Program Commences Canada, page-8

Unless regulations change or there's a bit of regulatory flexibility, there is zero chance of having a 3yr timeline. The Canadian rules have a baseline survey and then 3 years of summer/winter updates. At the end of this you are still looking at some regulatory approval elapsed time. With a quick turnaround to FID and development you might have a concentrator working in 5 years but I can't see it being quicker than that.

GT1 has completed the 3rd winter and is about to complete the 3rd summer. Their timeline they are trying for is 2025 production. Add 3 more years to this and 2028 is a good starting estimate for production if everything else goes as planned (and it often doesn't). Its still good that they have decided to commence the regulatory pathway.

Wildcard - Is there any flexibility within the Ontario mining permit process? Landone has conducted various baseline survey's at for its BAM Gold project at Junior lake. I'm not sure exactly where in the Junior Lake area they have baseline and ongoing survey's for, but all of this area but it could be survey data for within 3-5km of where BM8 is planning to survey for Falcon lake. Could regulatory authorities be convinced that if BM8 surveyed fully at the landore site where 15 years of history exists and at their site and found both to be similar, would it be ok to extrapolate that BM8's site would closely match the 15yr history of Landore's so the 3yr summer/winter is effectively already known (assuming both initial baselines look similar!!)