Perhaps this time delay could be more optimistic than it seems...

Perhaps this time delay could be more optimistic than it seems with further commitment from the main company CNMC on the table

Taken from the MOU documents:

"Consideration for CNMNC to refer TMT to its parent entity, CNMC, to discuss additional Project
support, including scope for financing and/or EPC arrangements

ABOUT CNMC (NINGXIA) ORIENT GROUP CO., LTD.
CNMC (Ningxia) Orient Group Co., Ltd. (CNMNC) is a top ten producer of vanadium alloys in China,
producing both vanadium-nitrogen and ferrovanadium alloys for the domestic steel industry. CNMNC
is the largest producer of tantalum and niobium alloys in China and is headquartered in Shizuishan,
Ningxia, China (see www.cnmnc.com).
CNMNC has more than 3,200 employees and was established in 1965, and it was restructured in 2003
with registered capital of RMB 2.3 billion. CNMNC is a controlled subsidiary company under China
Nonferrous Metal Mining (Group) Co., Ltd. (CNMC). CNMC was founded in 1983 and is a large-scale
enterprise under the management of the State-owned Assets Supervision and Administration
Commission (SASAC) of the State Council. Its major businesses include the development of nonferrous
metal mineral resources, construction engineering, and relevant trade and technological services.
CNMC is headquartered in Beijing, China and was rated AAA by China Chengxin International Credit
Rating (see www.ccxi.com.cn) in November 2018.
CNMNC is engaged in research, development and production of vanadium, tantalum, niobium, and
high-tech alloy products, and has won more than 100 national, provincial and ministerial level
scientific and technological awards in mainland China."