I think the U price meant U project was in caretaker pause mode...

I think the U price meant U project was in caretaker pause mode when we needed to start ..... may as well explore the lease for other options.

Now the U price is much better but the government is unlikely to approve extension while its policy against U mining remains in play - it is no longer certain that WA government policy position will be maintained given WEF and AUKUS developments but no announced change of government policy just yet...so the U pause caretaker mode continues for now.

Lets hypothetically assume an extension is granted say in 12 months time. TOE will re-rate and the Japanese partners will take up their cheap option - TOE will build a process plant and commence mining. Happy days for holders. Yes commencement wont be token overburden removal - it will be actual mining on a project with high rates of return on capital - especially at these share prices!!!