Ann: EPA approves ESD and sets timetable for Arrowsmith North, page-244

It would be a guess, but i'd guess once they cleared stage 3. At the completion of stage 3 you'd have a draft EPA report, all the public comments dealt with and a list of constraints or "must do's" before final report is written and issued to the minister. Absolutely everything is known at this point, baring the minister saying no. So entry into stage 4 should clear a path for risk adverse types.

this coupled with a few legitimate off-takes and a finance agreement would most assuredly help things in a dramatic and positive way. In short:

Stage 3 = Hyundai
Stage 4 = Lambo
Stage 5 = Hyundai Offtake

see what i did there