Ann: Company Presentation, page-19

Sheesh.

1) The JV partner has no control over the management of the JV. They can't delay anything, or speed anything up. The delays are because the last round of drilling was successful and they decided to include it in the DFS which delays the thing by a few weeks.
2) PMY isn't sitting on the cusp of a capital raise. The next round of funding will likely come from a deal that involves selling offtake. Then there will be further offtake deal before project funding is needed. Selling offtake is not related to the share price. The need to tap the market this far along is heavily reduced. Funding can be achieved by selling offtake, Project funding won't even need to be discussed until the DFS is finished, so today's share price in a panicked market isn't really relevant.
3) The chinese government aren't directly related to PMY. Henan Yuagang, like pretty much all Chinese companies, are managed privately but state owned (thats how modern communism works). There isn't some conspiracy to fleece PMY shareholders by the JV partner or the Chinese government. The JV partner is in the business of buying and selling lead, not lead developers. If it failed, they would be back owning 25% of a non-lead producing tenement - explain how that might benefit them? After KBL failed, they had an asset that was virtually useless, now Simon etal have given them hope that they may get a return on investment and even a whole lot of lead concentrate (see 2. above) so why force them to fail?
4) Will someone please show me where a company has previously reported to the market on a falling share price. If there is a reason for the fall, they would say it, but you can't come out and say "nothings wrong, its a buy" or "nothings wrong, just the market". They updated the market less than a week ago so what, apart from the share price, could possibly have changed?

If you want to know what's wrong, its the share price. Too many sellers. Not a Chinese government conspiracy.