Gantt chart, page-2

I would be lying if I said this wasn't a concern.

However it was not unexpected - refer to page 8 on the following broker report issued by TC during January 2014:

http://www.kibaranresources.com.au/IRM/Company/ShowPage.aspx/PDFs/1239-20606200/TaylorCollison

Time timeline is pretty close to this one initially released a year and a half ago; in particular the actual construction portion of the timeline has not change from 9 months.

This does pose another very important question; if it will take 17 months for KNL to begin production after obtaining production what will it take for the 'super pits' given that their projects are on a much, much higher scale? The simple answer is these super pits will never commence construction but if we float with the idea that they will, this will provide an incredible first mover advantage for KNL.

Also I forgot to mention earlier that although the project can accommodate repayment of the loan in 2.7 years, as per the expression of interest announced the company is negotiating 6.5 year terms on the finance.