Agree, they don't want to step out into mid air without some pre-arranged certainty, and the West has been largely asleep at the wheel for a few decades now so it would be surprising to see any foresight from that quarter.
The political uncertainty and expiry of that term clause might be enough to move Shenghe forward, but they still hold the financial and technological cards as well as the guaranteed offtake as you say which leaves them in the controlling position.
The Shenghe deal is to fund project development but not so sure that will include funding the Peak salaries, that might require further capital from shareholders until the company is cash flow positive?
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