Ann: Annual Report to shareholders , page-2

"A review of the definitive feasibility study (DFS) completed in 2011 revealed that certain areas of the study were not
sufficiently defined to fully support a funding decision. Whilst it is disappointing that additional work needed to be
undertaken, the Company has used this opportunity to enhance the scope of the project by incorporating changes that
are expected to increase the Project’s output and significantly improve the Project’s economics."

Would this be the fault of management or GR Engineering Services? Maybe a bit of both.