please explain?, page-12

Jury has stated that offtake agreements will/can only occur after a sucsessfull BFS, evrything is on track so far, hes stated that the Waterberg is the priority, and they are going to start some exploration in tassie this quarter i believe, 200-300mt target near ports n rail is a great back stop for RES and spreads out regional risks.
As for the Uranium tenements, well there well down on the list, and i would think that they would be moved on in time, i just dont think we could fund exploration on all three.
As for takeovers thats the tricky question, who when and how much? I would think more than 12 months from a takeover.
Dont forget Joint Venture's!!
AP