I can imagine it,given that the refinery EIS hasn't even been...

I can imagine it,given that the refinery EIS hasn't even been submitted yet.Approvals for the refinery will need to be in place before there is any chance of ECA cover on a KfW loan. Given the other components that will need to come together in the finance package after senior debt has been secured,I understand why PB said he HOPED for a FID in 2019. 

If DD from senior debt providers took less than 6 months from the time ALL specs on every aspect of the mine and refinery were locked,then it would be a miracle.Those senior debt providers will also need to approve of all subordinate debt terms and require the equity component to be finalized before they part with any funds.If TNG secure just a binding offer from senior debt providers in 2019 that will be quite something.If there is any delay in refinery EIS though,I wouldn't bet on it with stolen money. As usual,all imo,and I am not an optimist.