Ann: Bulk Sample Outperforms Block Model-KNL.AX, page-29

You pick up on a very good point about risk, banks leave and breathe it in evaluating. UFK commitment of up to 40Mil does not guarantee the full amount but KNL must be ticking most of the boxes to get up to the full amount. Have been through the painful process myself on several non-mining projects and the time it is taking to secure full senior debt is immaterial if all risks are being addressed through BFS and further testing. When senior debt from such a reputable source is approved, other opportunities will materialise outside current MUO's.