reading between the lines here, it seems they thought they were a lot closer to a deal for a JV or off take agreement than they actually were.
A few causes for concerns could be had here, potentially partners have evaluated the business and decided not to proceed or there just are not as many suitors as they had hoped.
However sometimes these deals just take much longer to materialise than best estimates.
The resource is there, the recent price movement is likely a result of people wanting to de risk and take some profit. Any announcements, although it seems to be taking longer than hoped, will see the SP rocket. Short term it will not be pretty for SP
reading between the lines here, it seems they thought they were...
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