Ann: ARL SMM and MC to form a JV to develop KNP Goongarrie Hub, page-424

And every JV I've seen and been involved with will NEVER fork over a lump sum at the start of a project. That's why they have regular JV mtgs to go through work status progress, next period budgets and work streams (whether that be monthly, or more likely, qrtly), budgets v actuals etc.

Just another lazy attempt from our 'friend' to join the conversation.

More likely the mkt is doubtful the PFS figures will stack up against DFS scrutiny. Mind you, given some DFS figures that have come out in the past (not just in the Ni space but also gold hopefuls), one would have to be extremely cautious believing too much in those as well.

Plus, we have the conditions precedent to complete this qtr, being the:

• Sign off on the Shareholders Agmt;
• The JV incorporating the Consortium SPV and novating the SH's Agmt to that vehicle,
• Obtaining FIRB approval; and
• The Consortium getting sign off from the Korean Fair Trade Com'n.

Reckon the tortoise is still moving steadily forward!