I'm not prepared to concede defeat just yet (allowing for a last minute Hail Mary pass - kinda like SYR/LYC), but yes - it is sure looking that way, mate.
Jervois is a classic example of gross management incompetence. A young, inexperienced & extremely arrogant + intransigent MD, out of a global trading behemoth, thinking he could run a junior mining minnow with his eyes closed.
If deals were imminent, they would have been announced IMO. Simply saying that they will provide an "update on business activities" in the upcoming quarterly speaks volumes.
Would very much love to be proven wrong here.
Ann: Jervois Q4 2023 Activities Report and Investor Call, page-8
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