Ann: DGR: Business Update, page-17

The point is, why haven't groundworks started ? The EPA stipulated that the ground had to be in a certain condition i.e. content of moisture, sufficiently dry enough to allow the construction of a functional tailings dam. There is the old tailings dam, having been constructed in the past, but it only had to be of a size big enough to cope with 2,500 tonnes of ore processing. The new dam has to be large enough to contend with 40,000 tonnes.
We are now leaving the hottest driest months and heading into wetter cooler times and still no sign of commencement. The original indication was that commencement could be November December !
It is now almost April !

There has to be a question mark in investors minds as to whether management has an understanding of what they have embarked on and whether it is achievable, because of this continual delay. It is not surprising that the share-price is where it is, as there is nothing yet to convince us that Granville is a viable prospect without the required infrastructure works completed.

I hope that the above doubts are proven incorrect, but the possibility is still there, which is why I ignored the temptation to buy more shares at the current price today.