I remember reading an analyst report that used the Nash...

I remember reading an analyst report that used the Nash Equilibrium game theory to describe what is happening with Extract. This theory seems to be holding true - no player at this game appears to be motivated to make any move to change the status quo.

Each of the players knows the sequence of steps coming up (mining license, finance, construction, offtake agreements, production), and the costs and timelines associated with those steps.

I am not sure whether the players are still bound by stand still agreements around their share holdings, does anyone else know?

I have thought that the mining license and finance would trigger action, but am now not so sure. I now wonder whether an external player needs to enter the game to trigger any actions by the existing players.

The reasons to own a resource like this would include the profits associated with the future price of uranium, the resource having synergy with an existing business (applies to Rio, but not other players), potential increases in mine life, wanting to be in a position to influence the price (and profitability) of uranium (applies to largest uranium producers only)