There's no question that they will need to raise further capital...

There's no question that they will need to raise further capital to get to a bankable feasibility study and final investment decision. The questions become at what price will they be raising capital, how will they do it (i.e. issue shares, offtake agreements etc) and will they survive without being taken over before they need more money.

I suspect that once the economics are more certain, they will be back on the radar of a couple of their major shareholders, who would be best served getting in before the big dilution comes.