Ann: Project Execution Update, page-19

Yes, bloody frustrating. In my opinion the uncertainty surrounding funding is causing the biggest angst. How much shareholder equity, and will the debt facility need to be revisited? Other concerns are the cost increases. But as I alluded to in my previous post these were always going to increase as the project de-risked and moved to “shovel ready “. ASIC increase is also an issue, however, in my opinion, can only be confidently assessed to year two of production. There are potential juicy bits after year two that will have a positive impact on this.