Zinc Batteries, page-8

I dont have the decade long experience that some mention wrt IBG, but cannot see the history being relevant to the current situation. A decade ago there were many steps yet to be conducted before a mining license could be obtained.
A mining license was the critical step before finance could be arranged.

I think that AJ is probably correct in his view that IBG will need to reduce their ownership percentage for the finance to be obtained, and would not be surprised to see a complete takeover as being the price for a mine to be constructed.