Ann: Quarterly Activities Report, page-130

It would be logical to work through each point - that is the point of the ASX discussions. The submission requires the Outstanding issues to be addressed Not some but all of it. If all is ok then we move onto relisting which is 6 weeks.
Why has it failed - sometimes these issues can be relevant but not practical As an example the ASX could require offtakes before approving the relisting to ensure the aquisition takes place. However the buyer and provider of debt funding or offtakes require the aquisition as a condition. These are examples of a difficult situation to overcome in a model such as this unlike the traditional approach of exploration and development of a resource.
Further, like we have seen with Cann Global formerly QBL, relisting takes time and is basically an ipo with greater complexities. CGN /QBL took over 12 months. It is why GLV stopped the vanadium aquisition to avoid going through this saga.