Ann: Extension to SPP CLosing Date, page-16

It is just as I have written again and again, without new ore there might be the danger of temporarily running out of ore somewhere between March and June 2020 and that would be really costly.
There is no problem to avoid that scenario if Troy acts now, but they need money and that money can either come from operations meaning postponing Investec repayment, which would be a major blow to Investec as they have no advantage of reserves in 2020 when their loan will be gone, or from taking on money now. And that is what Troy is doing now.

Due to the high gold price Troy might be able to get along without any SPP proceeds but will lose 3 months (optimistic). Could be still in time, but who knows.

Pretty safe bet that the SPP proceeds will be somewhere inbetween and Troy will be able to make it with 1-2 months delay vs. a perfect schedule. There is also the possibility to get cashflow from trial mining by mining a probable high grade lense directly at surface near TRC001.

Not to say that there is no upside to reserves from current ops, the cut-back means the Smarts pit will be 40m deeper.