Ann: Update on Bioenergy Infrastructure Project Finance, page-12

On the 31st of August, DEL reported:

Delorean is in the advanced stages of completion of the process, with announcements expected in the first quarter of FY23

On the 30th of September, DEL reported:

The Company can confirm that it is continuing to progress the financing discussion with a preferred investor and now expects to be in a position to make an announcement on the details of the financing arrangement inside of October 2022.

At the time of the Appendix 4E, DEL had clearly had no idea how long this process would continue to take and I don't understand why the expectation changed from the timing of the 4E to the 30th of September when DEL commented "now expects".

Was their expectation different at the time of the 4E?
What, if anything, changed during the month of September for their expectation to have changed, in effect upgraded.
Their choice of words is interesting - why is this only a ''discussion''?

Clearly if you HAD expected a result on the financing process by end of Q1 FY23 you wouldn't be expecting it to have dragged out to middle of October and this validates the point above having no idea on timing.

The release by the end of October is still only an ''expectation'' albeit a slightly more bullish one than the expectation in August.