Flanagan, page-18

BAT isn’t cashed up, the cash they raised was meant to see them through to production not half complete a mine which is all they can currently afford. While you are right re the other players BATs misfortune is self induced from mgmt incompetence to try and downplay this fact is glossing over the elephant in the room ... lack of finance - until this is sorted it doesn’t matter how many presentations DF will roll out (expect to see development timeframes pushes further out).