Ann: Japanese Consortium Update on Progress on KNP Goongarrie Hub, page-17

A very good conversation by all regarding today's update. (Due to the past week's insomnia, had slept right through it all.)
A few other points I noted in the announcement are:

1. "Cooperation Agreement" Instead of a Joint Venture Agreement, an Project Investment Agreement, or a Binding MOU. The choice of wording seems significant. Nuances, nuances...
2. "...will fund and conduct the Definitive Feasibility Study (DFS), Front-EndEngineering Design (FEED) and Pre-Commitment Activities (PCA), leading to aFinal Investment Decision (FID)..." That's most likely the reason for the extended "delay". It's not just about the DFS, but goes forward into the next phases following the DFS. That's the level of vision, meticulousness and depth of experience of the JC; all thoroughly planned to negate any unforeseen knee-jerk reactions. Very glad they are on board the KNP Project. That the FEED and PCA were not mentioned previously is proof that ARL and the JC definitely know what they are doing, and are taking measured steps to reach the goals. No need for premature disclosures in the meantime.
3. "...have completed all DFS scopes of work,assessed vendor bids and agreed the DFS budget. Ardea, in consultation with the Consortium, has commencedearly works such as geo-metallurgy of ore feeds and various environmental monitoring." The DFS budget is well and truly finalised, implying that the fee sharing structure under negotiation a month ago is finalised as well. Revisit and contrast to the wordings in the last update: "...the DFS budget has been agreed for third party service provider..." Notwithstanding the remaining pieces of negotiation to be finalised, they're chomping on the bit to get going. Short of an Act of God, the mine development will proceed.
4. "...the independent consultant concluded that a 40m x40m spacing is adequate to define Measured Mineral Resource material..." The usual spacing required is 20m x 20m. The wider spacing of 40m x 40m means that there is 75% less drilling, from 200,000m to 50,000m. So the local pub chat on an Friday evening drink session as overheard by a poster is spot on.
5. "...infill drilling will be undertaken within the five-year open pit shells." Does anyone know what this refers to? To Mick: will they use a RC or diamond drill for this? It's just general knowledge for future understanding when investing in other jr miners.
6. "Ardea and supporting consultants have continued to advance some early DFS workstreams, including a moredetailed review of in pit tailings disposal which supports this proposal being carried forward into the DFS." Chomp-chomping.
7. "An open pit mining study assessing a 4Mtpa scenario... has been completed." Does anyone know whether this is related to point (5) above?

That's about all I can pick up from the announcement. Looking forard to clarification from posters.