In typical mining project you should normally allow about 12...

In typical mining project you should normally allow about 12 months from DFS to the funding package, and then probably another couple of months to commence construction. On JPs timeline it will be about four months from DFS to full funding and construction has already started.

The strategy is to go flat out for early production, and everything they are doing makes total sense to me. I don’t see how they can get the off-take/pre-payment deals done any faster. The timelines are already very short. JP has to be caeful in his comments when negotiations are in process.

When the DFS for Stage 2 comes out next month, the market will start to consider the discount from the NPV for greatly enlarged 2026 production, and also lower opex numbers brought about by economies of scale. This stock is very under-valued.