Ann: Quarterly Activities & Cashflow Report, page-50

Hi Welsho, i'll explain further my train of thought. This is from the quarterly:

'In October 2020, the Company entered into a formal Mandate Agreement with US Development Finance Corporation (DFC) to undertake detailed due diligence on the Project, with a view to providing the necessary debt financing for the Namibian portion.

And

During the quarter the Company submitted its formal on-line application (Form 007) which allows DFC to commence its detailed due diligence process with an initial focus on ESG and the selection of an independent engineer'


This is the process on the DFC website, note step number 5:



Remembering that it was in October when the retainer fee was paid (#4 on the list) it is more akin to stagnation rather than progression given that the form 007 has been completed in the 2 quarters. It reads as though the DD process has just commenced and given the further steps in the process presumably an outcome decision is quite a way away. The finish line might not be as close as some anticipate.