Yes your correct, but it's a lot of work to drain then to...

Yes your correct, but it's a lot of work to drain then to open pit mine. I'm guessing this is the road block along with borrowing costs @ 10%
20m+ before they even pay themselves. it's high risk hence why they are stalling in my opinion. They need more certainty that the copper price is increasing over the long term, currently it's declining and looking at a global recession doesn't help their predictions. copper demand is high. but the whole uncertainty is weighing on investment. My gut feel this might go into care and maintenance till the new year, well it practically is in C&M until they advise further on finance.
Let's be honest if this was a sure thing don't you think the likes of glencore would loan the money via a cash for equity?
There's something that just not right and I can't put my finger on it as yet...Anyhow I'm trying to be hopeful.