what the judge actually said dismissing stay

After the judge dismissed the suspension order smsl asked for a stay pending an appeal. The judge directly asked if there is going to be an appeal. She said smsl have not proven that there is going to be castrastrophic consequence if injunction is lifted and that lynas has proven any further delays will be at huge costs, she cannot justify any further delays. Smsl said there will be not be a lengthy delay and that an appeal can be made within 48 hours. The judge again clarified that all information is before the court and smsl will not be presenting any new info. On this basis the judge dismiss the stay not because it is verbal as smsl sighted precedents supporting a stay. I am not a lawyer but I understand that if there is an appeal, it will be to a 3 judge panel on the basis that the judge made an error in law at not granting a permanent stay. On this basis leave may not be given for further appeals. My more learned friends may be able to give a better interpretation.