General discussion inc SP movement, page-205

It’s hard to watch Christmas approaching with no firm deal to proceed. I believe that if funding was ever on offer to get started HGO would have jumped at it. Hence the strategy to delay and plan an expanded project, while almost certainly in our interest, was forced on us. While the increase in the resource base does appear to have eventuated as we all expected, which is wonderful, there is still no guarantee that it will be acceptable to lenders. This is a vexing and worrying situation. There is not even a date for when our revised plans can be presented to lenders. I remain concerned at how long this is taking and how much cash is left.