The Bowdens Project is located 3km northeast of the village of Lue in New South Wales and 200km northwest of Sydney with access by paved road. Following its acquisition of the Bowden project in late 2010 Kingsgate had undertaken an aggressive evaluation of the project with a target start up date of 2017. We assume an earliest likely start up date of 2018 to reflect the time required for feasibility studies and construction. A definitive feasibility study and environmental impact statement (EIS) was originally due for completion in 2014 however the company is still understood to be working on both reports and unlikely to submit the EIS to the state government until 2017. A full cost profile will be generated for this project when sufficient feasibility study information is published.