Institutions won't buy until the mining permit is signed no...

Institutions won't buy until the mining permit is signed no matter how likely it is.
They just wouldn't take the risk, the downside outweighs the upside ST and it will be difficult for an institution to unload a large volume of shares without further downside if the permit was not issued no matter how unlikely.

Instos will also look for opportunities through CRs and the like.

Retail will drive the SP up short term after the permit is issued and Instos will drive the SP over the medium and long term as they accumulate. No doubt there will be spikes and tree shakes along the way.

All IMO

GL