The new CEO states they aren't sure how long the approval process will take. Given this could change, the whole approvals landscape could change, shortening the process outlined in the Investor Presentation.
Right now no-one knows for sure there is 5 years work in studies and approvals ahead - in fact no-one from the co has stated 5 years of studies and approvals.
It may turn out that there will be 3 years in studies and approvals as per Investor Presentation, in that case you will have guessed closer to the mark. I'll congratulate you closer at the time if that turns out to be correct.
Watch the webcast for detail and please don't turn into one of those 'I told ya so' sorts, too many on this forum that don't get taken very seriously.
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(20min delay)