I would say you likely have a better grasp of the nuts and bolts...

I would say you likely have a better grasp of the nuts and bolts there than I do pb.
I heard it has been a thankless operation to date, as shown by their updates.
Geologists on the forum have been sceptical that grades ‘lower down’ will improve but I think the company’s second ( and third?) sets of data checking officially indicate they should improve .
NRW took on a $320M six year contract early last year but Gascoyne may not be a six year mine there unless Golden Wings comes good (it hasn’t yet) or they find new gold.
I think management here has assessed everything, as you say, and set a course with the loan that offers the best way forward for NRW in both best and worst case scenarios.
Luckily we are not so dependent on it as we were a year back and I am sure the experience here has sharpened NWH diligence and investigative whiskers more than they already were ....which to me means @Pioupiou’s reminders that these days we are after ‘quality not quantity’ is likely to be what we see playing out in the future...