Ann: A$10.4M Entitlement Offer to Drive Key Project Activities, page-31

Veuve , among other things , you cannot mine if you do not have all regulatory approvals in place and ultimately Approval to Mine.

The fundamental equation had too many high risk unknown variables and key WBS activities left unaddressed on the Critical Path . Addin that the DFS budget estimate was not of industry standard for a BFS and you have a recipe for failure .

The fact that a project can go so pear shaped so early is testament to many , many issues not being addressed appropriately to bring them into a lower risk range imo. The EIS issues , water , TFS , etc. all come to mind.

Bottom line is , they cannot do the complete project execution "in house" as anticipated and will now need to go down the "conventional build" road engaging suitably experienced and qualified consultants who have a long and successful track record to hold their hand. To make this viable presumably they need much more data and a higher resource base from which to proceed forward. Going backwards is now not an option .

My opinion only , so DYOR. (Suggest you read the 2018 AGM presentation.)