Ann: Managing Director Company Update, 121 Conference Cape Town, page-150

I know right. I'm not taking anything management says at face value anymore. Around this time last year PB said we were going to have native title agreement signed off and a ML by April to mid year so I invested a large amount of capital based on his timeline thinking it was going to happen. Sure enough this never happened and now on that particular investment i'm down 40% ~. I should of listened to my head and not my heart and I could of easily picked up another 150k shares if I had waited.

Everyday that goes by and we don't get any news I fear that we will be waiting an extra 3-6 months for PB and co to deliver on their timelines. 6 days to go and we still haven't heard anything about the refinery submission. I hope there is some kind of announcement shortly regarding this giving clarification about where they are at with it and if they've ran into any issues. More importantly I want to see/hear more news about the FEED and financing. TheGermanLand makes a good point about kFW potentially taking up to a year and I can see the argument and logic behind it BUT I hope he's wrong. Especially since PB and Vollant have said multiple times over the last 12 months that they expect the FID to happen around the middle of the year. This seems to be the only set of goal posts that have remained consistent and haven't moved.

The only thing we can do is kick back have a beer and wait for PB & team to deliver.