Ann: Trading Halt, page-9

1. 0% chance shp will raise >$1b aud capex.
2. You will be diluted out of existence if that happened.
3. There will be no rerate as these projects are not rare and left undeveloped for a reason.
4. That reason is there is no shortage of expensive MoP projects (no labor/logistic/power advantage) .
5. <20% irr is not attractive to risk capital ( ss to dfs will reduce npv and increase capex almost certainly )

All the above is moot because raising even 10% of the capital required to fund the project is VERY VERY unlikely. There are plenty of listed companys in the same position stuck in the mud collecting salarys and related party fees.

I expect the company will do study after study before swapping to a different commodity in the future.