Will highlight that the process is systematic and remains...

Will highlight that the process is systematic and remains ongoing as stated in the announcement.

Formal expressions of interest are now being finalised:

• "Origin Capital as financial adviser in July 2018 and is now in the process of formally establishing expressions of interest from potential debt providers. Upon finalising a short list, Origin Capital will then assess the proposals and lead financing discussions on behalf of Battery Minerals."

A key part is due dilligence.

• Technical and market: "As part of the funding process, independent technical adviser Bear Dolbear Australia has conducted a thorough independent technical review of the Montepuez Graphite Project. This review included a site visit and technical assessment. In addition, Benchmark Mineral Intelligence has conducted an independent market study and analysis. These reports will be made available to potential financiers with a view to helping accelerate the funding process."
• On-site due dilligence: "In late January and early February 2019, Battery Minerals is co-ordinating site visits for potential project funders and investors."

All potential funders and investors get access to the same due-dilligence material and the opportunity for a site visit. That helps to make the process competitive.

I think a chance we'll have an outcome by end of March ( this would be 6-8 weeks from the completion of the site visit ). Would think enough time for formal proposals.

BAT will have an internal timeline they are working to with Origin Capital. BAT will also have an internal plan for timing associated with completing the project and generating cash. They just can't commit to a timeline until finance is finalised.