Ann: Entitlement Issue Prospectus, page-52

As far as I can tell there shouldn't be huge expenses left between now and the red light/green light outcome of ASN.

Let's say ASN gets the greenlight. At that point the entire narrative about the company changes and the necessary capital should be relatively easy to come by to progress ASN. Muchea gets progressed anyway.

Lets say ASN gets the red light. The company can't capitulate because of that outcome. So they would forge ahead with Muchea, doing exactly what they are doing now. It is easier for them to raise capital to progress Muchea while the ASN outcome is undetermined than it will be if ASN is blocked.

The way I see it is that either way Muchea needs to be progressed and they shouldn't wait for the ASN outcome. They can't wait, because in the worst case scenario it just makes it all that much harder to raise capital needed to progress Muchea.