From what I hear the drilling has been delayed due to a change in the environmental permit process - I understand that drilling cannot commence until the relevant permit is held. It's just taking longer than expected to get the permit sorted from what I understand.
In terms of whittling down company funds, the rate of erosion of funds from what I understand is minimised through the JV's with OZL and the Japanese.
Hard to be patient with this company at present however I anticipate drilling in the very short term to commence and some progress towards exploitation of the resource (naturally after the resource has been upgraded.
We'll see ...
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