Ex-ALK holder here, and haven't been paying too much attention...

Ex-ALK holder here, and haven't been paying too much attention about this project, I am just going through my big list and putting red lines through a lot of over-budget and delayed mine projects in WA and in NSW, is this another one to add to the list of doomed projects despite the metal market fundamentals? I like the South Korean connection but this looks like it is going nowhere at all despite the rare earth supply situation and fundamentals of rare earths.

Or is it also a case of the shorters having a field day? and this has overshot on the downside? Looks to be so much money on the short side that picking an entry point is like stepping in front of an express train at full speed.