Rox and the mining cycle

Thought this diagram relevant to Rox with some modifications. The speculation / discovery phases took place about a year ago when RXL jumped to over 9 cps. Since then the SP has been in steady decline with many of us underwater on our holdings. Note that the feasibility stage below does not show significant market interest highlighting the long term project of gold mining. A Rox shortcut is important, which is restarting rather than starting a gold mine. A lot of infrastructure and mining clearances are already in place. The early entry of a cornerstone investor Hawkes Point is another modifying factor, Rox does not have to do the endless rounds of CRs through share issues with dilution mainly for retailers.
The share price game changer on the diagram is the entry of institutional investment to fund the Capex (around $50m) which Alex says will be around June to August 2022. It's a long haul with very large rewards for those with a 2- 3 year perspective.
While this diagram is useful it's an oversimplification, I expect the forthcoming JORC to drive the oversold SP a lot higher.
Will the JORC come before the consolidation? My guess to afterwards to maximise the benefits to international and sophisticated investors who do not trade micro companies.