You can't sign contacts with builders if you don't have enough...

You can't sign contacts with builders if you don't have enough money to pay them. The company has flagged that costs are likely to exceed the current allowances which will necessitate a strategy for additional funding.

Feeding in to the above is what they're actually building beyond Pond 5, which changes based on the approval to the optimised area.

So I'd expect a review of costs, funding and award of contracts for the balance of the packages to occur after the decision on the optimised layout. The company is annoyingly silent on these steps, but hopefully it will start to become clearer with the quarterly due next week.

Filling water in ponds 1-5 is also dependent on when you expect to have the other ponds/crystalliser built, it's all connected.