You could be right on the notice period. It may be given its a time clause that they have to wait until BLT are in breach to terminate unilaterally. If both parties consent then they can renegotiate anything.
It seems a bit odd though delays seems inherent to me and a few more months shouldn't be a deal breaker if things are as they have said. Seems to me the market is pricing in 'the thing doesn't work' in to that announcement rather than a delay to optimise.
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