Realistically we are looking at 2nd half of calendar year if...

Realistically we are looking at 2nd half of calendar year if divis are paid quarterly. I think a realistic assumption would be Christmas 2013 as that will hopefully be the best part of a year of production. That would allow any losses to be absorbed, along with the balance sheet being built to a level that fortifies the company. No company pays out all of its cash reserves. A quarter to absorb losses, a quarter to build the balance sheet, a quarter to generate the divi and then a delay to pay it in my book; all assuming a January start to production which may be optimistic.

Regardless I will be very, very surprised if we get any indication in any quarterly before September's at the earliest.