Given the technical difficulties with extracting the gold, a...

Given the technical difficulties with extracting the gold, a pilot plant to" prove the concept" of the extraction technology is the sensible way to go.This was forseen by the company long ago and will provide a firm basis for financing, otherwise they naysayers will say that the concept and process is unproven and not deserving of finance.

A successful pilot plant will de-risk the financing stage and open up other avenues other than equity dilution e.g. forward gold sales, or a Caertesian Royalty holdings type deal.

Equity raising would be a fall back, but might be taken up by another cornerstone investor in the industry.

....just think'n......but appreciating that the company is making the right moves.

Once a JORC is out,there will be a sudden and major re-rating.I wouldn't like to be standing on the sidelines watching the biggest ship of the century sailing off into the sunset.