There is no uncertainty over the Term Sheet which was entered...

There is no uncertainty over the Term Sheet which was entered into last year (22 Aug it was announced). It is the Shareholders Agreement (SHA) we are waiting on which comes as a result of the key terms agreed in that Term Sheet (or, failing agreement, an expiry of the Term Sheet after 6 months from 22 Aug - which is next week).

The only feasible thing they can do is:
(a) announce the SHA has been agreed before Term Sheet expiry date (kickstarting the JV), or
(b) extend the Term Sheet further (for more time to negotiate the SHA), or
(c) simply let the Term Sheet expire (which would see the binding terms already agreed extinguished and effectively mean an end to the TE partnership).

Lets be hopeful it is (a), expect it to be (b) as is the usual case with PRL and deadlines, and hope like hell it is not (c).