But:-
Stage 1 - up to 12 months for Test works and flow sheet design
Stage 2 - up to 48 months for Study phase
Stage 3 - up to 72 months for Decision to mine.
Potentially 12 years.
I hope these are generous allowances in case something goes wrong, because GBG won't have any money at the end of 12 years.
Ann: Gindalbie Executes Farm-in and Joint Venture Agreement, page-4
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