The processing plant at a guess would be at least 20 years old though it has undergone some refurbishment along the way, from memory I believe the company advised it would take 9 months, from when they receive the required funding, to start production.
I believe the processing plant was used as security for a loan from Fortune of Dubai for US$5mill , see announcement dated 21 April 2015. The term was 6 months but it seems that Fortune may have been receiving some sort of payment since the end of the term which would I suspect have caused the debt to increase substantially. At this point, IMHO, the plant is owned by the company unless of course Fortune decide to call in the loan.
It would appear the company does not have the finance , personnel and most likely enough equipment to start extracting ore at this stage from the announcements of the last couple of years.
This is not investment advice, my personal opinion only formed from the reports provided by the company.
DYOR My thoughts and ramblings only
CTO Price at posting:
1.2¢ Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)