Is NRZ as a company circling the drain?, page-38

You sound like an expert, but clearly you are not. As I said, the outcome NRZ would clearly have been seeking, and expecting when originally filed, would be "Assessment Not Required". That would bring on the Strategic Partner, IMO. with funding and things would move forward rapidly.
It isn't at all certain what further hoops NRZ might now have to jump through, how long that might take and whether it is even worthwhile for NRZ to continue to progress the Application. No outcome can be assumed in advance when dealing with the EPBC Act, despite your glib assessment
They have a small mountain of debt owing for work already carried out but not paid. Payment for some of this has been deferred until end of January, only about 10 weeks away. Without the immediate injection of large amounts of funding [and I mean a lot more than the pea shooter cap raise currently in progress] it is difficult to see a viable path forward.
"Circling The Drain" seems a good descriptor. Good luck, champ.