They are actually hoping to get the ML by the completion of trial mining not end of calendar year but timing is not certain.
There is no plan for stage 2 to run for 3 years that I know of. Stage 2 may only run for 1 year or less before upgrading to stage 3. All depends on what they learn along the way.
Cash flow estimates assuming stage 3 are much higher than yours. I estimate $55mill in the first year of stage 3 (assuming 10g/t) if stage 3 runs at 300ktpa. $24mill per year for stage 2 assuming 13.5g/t (GH ore blending to give higher ave head grade).
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