IVZ Share Price, page-260

I believe it will be singed when it is signed. My understanding is that the company can proceed without the PSA under the current royalty arrangements, however the PSA is designed to bring ZIM into line with other jurisdictions to ensure the government (and therefore the people) get a fair deal. To see how important bringing the locals in you only need to see the issues with RECON Africa lately (and they didnt even do a bad job of this IMO)

The Benefit to IVZ is that once the PSA is signed they can then get more serious on funding for drilling (either via farm in or capital raise) As this needs to be known before people put in the hard earned funds.

The company would be aware of this and my understanding is that the PSA is progressing well, but they are not likely to make commentary via the ASX as to each incremental step as the PSA moves to completion.