Ann: Lake Way Process Plant commissioning commences, page-43

The environmental approval is done, just waiting for the minister. The problem with the approval isn't that it isn't coming but more to do with the knock on.
The SP is in the 40's but you have a MC far in excess of every other stock in the sector and the company/it's resources simply aren't that much better imo.
Furthermore there is potentially another 60-70M shares around the corner for executives and the lender (that was slow to lend).
All those "never say never " cap raises are now a drag on the SP, the BFS assumptions are out of whack with where the SOP market/Fx currently sits and the broader ASX SOP sector is hardly on fire. It's probably going to take some time to get back to 80 cents. SOP prices and exchange rates are going to play a big part imo. I wouldn't be surprised to see some hype around the next lake as a distraction to an earnings shortfall from Lake Way.