Ann: Procurement of Long Lead Items for the Great White Project, page-153

What I am saying is that the company is still moving from being an exploration business to being a miner. That in itself is a very big step.

They are starting with a smaller plant, to be expanded over time ... if you think that things have not changed in the world over the last 3 years then you've been in a coma.

I know of two very big projects that have had to go back to the market to advise that the costs of construction have increased dramatically post DFS.

If ADN think that it is better to construct in stages to keep the costs at an acceptable level that is wisdom .. telling you "seriously"