Fair call but they've had their hands full with Balama and it's all about timing.
There has not been the exponential demand increase for graphite so there was no urgency on BAM although progress made should not be scoffed at. Instead focus on Balama which they have made considerable improvements and now the timing should be cherry ripe to place considerable resources into BAM ready for serious favorable outcomes in 2 - 3 years when the "real" demand arrives and customers are plentiful as they wish to diverse or not deal with PRC.
Ann: Production of Battery Specification Anode Precursor Material, page-75
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