For the most part, the Bulk Sample permit was predicted for H1....

For the most part, the Bulk Sample permit was predicted for H1. H2 was only ever mentioned after H1 came and went. This is from the March 15 quarterly:

Bulk Sample Permit Progress
Several successful meetings held with Government and First Nations stakeholders pending
approval of the bulk sample permit application (expected in H1 2015), which will facilitate
delivery of first anthracite to strategic customers in H2 2015

I heard one argument for the missed H1 milestone which allocated blame to the outgoing directors... Hard case to sell this time around.

So it’s not a bold claim to say they were always aware it was unlikely to be H1 (in fact, they really must have known... I'd probably be more worried if they didn't know, because it would be borderline incompetent not to know). So to me it’s pretty clear management have assessed it better to announce 'we expect it’s not far away' then to announce a more conservative / realistic expectation. That’s tough to swallow, but of course it’s much easier to raise funds when you’re saying the bulk sample is imminent.

Either way, I still believe it is mostly a matter of ‘when’, and not ‘if’.