All this is from ASX announcements:12/10/10 - DFS (delivered...

All this is from ASX announcements:
12/10/10 - DFS (delivered late, with a longer than ever indicated timeline to production) - KM quoted "The partners have commenced their due diligence process by engaging an international consultant to review the EIS and DFS. The work is expected to take a minimum of three months...Upon successful outcomes of these reviews and consultations, the boards of Terramin and WMZ will make a decision to mine and submit the required documentation for the Mining Lease Application (MLA).

Three and half months later - 3/2/11 - KM quoted - He added, ?Although we had expected that it would have taken one to two months, the review of the definitive feasibility study by ENOF
and other government agencies is continuing.?

6 weeks later - 23/3/11 - KM again - said ?The Algerian
Minister of Mines recently wrote to assure me of the importance attached to the project by the government.?

5th May - KM yet again - ?The Wali (governor) of Bejaia has requested that the partners meet with him." At the meeting, Terramin will present the DFS findings.

End of May - the Trading Halt and shareholder kerfuffle.

Update 7 just now, KM again - The $40m Definitive Feasibility Study prepared by Terramin and its consultants is currently under review by the Algerian joint venture
partner ENOF, who are awaiting the completion and submission of expert reports.

So from a decision to mine expected early 2011 and a review taking a minimum of 3 months, we are now 8 months past DFS, no decision to mine, no financing locked in, and further reports still be waited for.

I'm still holding, but lost faith in this management team. I wish we'd gone ahead with the EGM.