Ann: Riley Mine - Update Following Completion of First Shipment, page-423

In my honest opinion AR is waiting for a sale for Mt Lindsay or a JV partner.
The only potential buyer or partner for an actual start up of mining operations will be MLX due to the tailing dam storage.
Mt Lindsay mine and Metals X tailings storage dams are 9 kms away from each other.
By sharing a dam and approvals this will decrease the start up cost by a least 15 million. (small dam to start with)
FYI, MMG down the road are about to build a new tailings storage dam "South Marionoak" with a storage life of 70 years worth around 50 million dollars.
FYI, MT Lyell copper mine also down the road pump tailings 3.5 km to their tailings storage dam up an elevation of 500m.
So 9 km is not out of context, it's just a matter of time before they make an offer and by holding MLX shares also why not take the MLX share price rise along the way.
Win win for me.
IMHO