BP134P942S,Great pic and @ 25%.. ummm.. Here is my read where...

BP134P942S,

Great pic and @ 25%.. ummm..

Here is my read where at. Have divided into two modules: Module 1 - Lucas & Module 2 - Primero.

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Module 1.

- clearing, initial siteworks @ 80-90%%

- stripping of overburden, hard to tell as hole half metre deep look same as 2metre deep from space. Same for pads, stockpiles, but say 10-20%.

- plant onsite, crib room, admin building also temporary plant workshop for maintenance, oil change, clean windscreen and paint the tyres (maybe the sheds?). Those mobile mechanics don't like to work on the ground,, wussies (wait a minute while I turn up my aircon, a bit warm here) say 50%.
So overall maybe low side of 25%.

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Moule 2 - EPC contract
Depends on who, how much done in DFS stages, I have no idea. Was awarded in early October, so about 7-8 weeks of work already done.
Enginee ring

- for long, long lead time items (associated with DMS, transformers, etc) would hope design, specifications, tenders done and purchases made. Say fabrication started, say at 40%.

- for process, P&ID design and drawings hopefully done (these are the process control and instrumentation - valves, flow control, pressure guages, etc). Need to be specied up and materials lists generated (need 35 300mm diam gate valves Table D, stainless steel, actuator control, etc), say 50-75%done, as medium long lead time. Process logic (assuming nearly fully automated process), say 50% for PLC (programmable logic controllers - If pressure at guage PG1456 reaches 1000kPa sound alarm and panic, DANGER DANGER ALL PERSONNEL RUN FOR YOUR LIVES.)

- civil & mechanical, footings, steel work, piping, pipe supports design should be going along well, say 60%. Again long lead time items done, need to order X tonnes of steel (do not know what available in Darwin?). Shop fabrication drawings for steel frames should be commencing, say 20%, and same for piping, bends etc.

- non-process infrastructure: gatehouse, power station, electrical cabling, permanent workshop, admin buildings, bores, pipelines, pump stations and dams, tailings, drinking water and waste water, etc. Say for overall engineering design maybe at 50-60%.
Procurement - maybe only at 15-20%
Construction - 0%.

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This is the time when it does not seem that much is happening, but behind the scenes of the site, a whole lot is going on.

So again IMHO, and most likely wrong because it is all a guess.

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One more thing, late last year I wrote to the Chairman of the Board (actually emailed), and:

- I am shareholder

- Congratulations so far

- Big shareholder interest in construction

- Don't forget the Board Charter to inform the shareholders (hopefully politely and diplomatically)

- Suggested that after the Project Manager has reported construction progress (ie 20% complete) and Board accepted, that this be loaded onto the Company website, Investor page next to Share Price box, similar in design with Finniss Project Construction Progress, 20% complete as of 1st January 2022. ( Now maybe 2-4weeks out of date, but good to monitor)

- Didn't breach ASX listing rule as reporting internal project management

- Would help Company Communication Policy of keeping informed, general and public interest.

Todate no reply, so either got the Royal FIB (file in bin), or will get Standard No4 Reply = thank you for interest, will consider, and P@#& Off, or?????. Happy to keep all informed or progress.

Sorry for the novel, but GO CORE GO.