Ann: TNG Announces Share Purchase Plan and Options Offer, page-86

The previous capital raisings were devastating... not the time frames. It takes a long time to build a mine, but even longer to build a "mega" mine with $1b capex.

Progress has been constant (for years now), but many people just aren't comparing apples with apples... if he was just trying to start up another gold or Fe mine, then it would have been nothing more than a process of drilling holes and feeding it into a DFS model that uses standard plant etc. These sorts of timeframes seem to be what underpins everyones expectations. However, in the case of Mt Peake, there has been significant time - years - of additional work required to develop, prove and optimise the TIVAN IP. Don't forget that Mt Peake would likely be uneconomic without TIVAN... but with it, it is the most profitable project of its type in the world. But no one is going to hand over $600+m without TIVAN being fully tested, nor would any sane person spend $600+m without having carried out all possible due diligence.