The fact that:
- The permit means the company can no longer blame the lack of permit for delays, and will now either look extra bad for lack of progress or require a big load of external funds
- The cash on hand is minimal and insufficient to avoid a CR before the next quarterly
- The "low cost" operation has generated zero income and looks like continuing that trend for longer than the cash on hand can last
- How many dollars, honestly?
- Being sorted? How long has it been? For how long has it been imminent?
...and this is just looking at each of your 'positives'! If I wanted to list some negatives, we all know I'd have plenty of material to choose from!
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