Grinding, " diesel " noise under valve covers

Grinding noise is metal on metal. Cam moving back & forth, lifters catching on lobes?
Man, I hope not! I took a video, but wouldn't post. It sounds like the rockers are " grinding " or more like a Growl, kinda like a diesel..is it possible the timing of the dizzy caused permanent damage.? Oh , and not trying to get in your business, but how are Things Down Under? The media here keeps us in the dark...