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Moneytech

In answer to your question, it's not up to the Nasdaq. The ball is currently with the SEC (Secutities & Exchange Commission). This is a goverment agency, not driven by commercial imperatives of efficiency. It's staffed by pencil pushers and bean counters who shuffle in at 9am and shuffle out at 5pm.

PRR announced on 14th Feb that they had filed their Form 10 listing registration with the SEC. Back in 2010 another aussie company, Unilife filed their Form 10 and it took the SEC 3 months to approve, albeit this was over Xmas/New year, a winter snowstorm shutdown and also involved a change of domicile of the company.

To be realistic, I don't think we should expect approval from the SEC before the end of March, possibly early April.
Subsequent to that event, the Nasdaq will advise the actual listing date (likely to be within 10 days), and that will be the trigger for the US market makers to begin buying PRR shares on the Aussie market in order to have stock for the US ADR's.

Above is all just IMHO.