Point taken, however in my experience permits do not usually...

Point taken, however in my experience permits do not usually halt share price appreciation during a time of commodities boom, especially when the projects are located in Aus where the decision is more or less a given.
Example would be WWI - goldie in Africa which has had many permit delays, failing to deliver on timelines for it, there are active petitions to stop it and so the decision itself is extremely high risk - akin to flipping a coin - yet despite the huge risk has had no problem generating hype.

CRL - 13M market cap with over 2m cash, 3 high grade projects on the go, even finance secured for 1 of them yet this is trading like an empty shell.
That's why i'll be buying back in when opportunity presents itself... despite the odd smell.