This was disclosed after reports were submitted to State government regulators in late December 2012.
Enabling the 15 month delivery period estimated in last year's Front End Engineering Design (OTC:FEED) study to be met.
Work has continued on planning and optimisation work for the zircon project.
This short-term work program is designed to meet the POSCO's commercial condition by 28 February 2013.
As part of this work, and in preparation for the commencement of the Project development stage, Gunson is collaborating with a small number of key contractors and equipment suppliers in relation to optimising mining and mineral processing plans.
David Harley managing director of Gunson Resources said, "further high level financial modelling incorporating the main aspects of this work program has provided increased confidence that the POSCO SPV commercial condition can be met."
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