I have heard similar language recently also. RD portrays positive language on the phone but it hasn't translated well. TO has also confirmed that Valentia are very committed - Japanese honor still seems to be quite important from the language in his last email.
I am wondering if the cash is in and they are waiting on ASX to scrutinize if the conditions have been met to allow trading.
EVM Price at posting:
10.0¢ Sentiment: None Disclosure: Held