government has not issued pre-operation licenc, page-14

You are absolutely correct rkwt1956,

Lynas is despite the PR-Campagne of the last couple of days - stuck in politics.

This would be no problem if the MCap would not be hyped to 3.5 billon $.
A waiting phase like this would normally result to a SP declining slowly.

The Lynas case is different because all hype projections depend upon a near time production target. With a possible delay of 2-3 years the whole thing could fall apart like a cardhouse because existing offtake agreements might turn out to be a fatal attraction with contract penalties instead of positive cash flow..

regards
Julia