attempts at giving guidance have been unsuccessful due to market...

attempts at giving guidance have been unsuccessful due to market conditions

In the current conditions the banks and financiers are not committing to make decisions

These are your observations and conclusions, and I think most of us have come to the same conclusions too. However I want to see this type of information and transparency coming from management ... "We are currently challenged by market finance conditions, and so our strategy is to .... " What we have got for the last 2 years is "everything is fine, the financiers and offtakers love us, final stages of NAIF, FID is not far away now".

Whilst on the finance subject - Finance will be diffcult and admittedly more difficult that what I anticpated 2-3 years ago. It is not just BML, the whole development sector has become very tight for capital. Most CR's are being done at significant discounts + need juicy options thrown in too to get anyone interested. There is just not much appetite at present. 2 things can quickly change this finance hurdle imho, a sustained run in commodity prices particularly Ag (which will bring interest and capital flowing back into the sector), and/or a positive announcement from NAIF or offtake partners that means a decent part of the capex can be funded by debt on concessional terms.