One thing is for certainIt doesn't sound from the company that they expect to get the permits until next year.
I'm unclear tome about when they have to start paying the interest on loan facility. Msybe September. I'm sure that I read they have to keep a mininum of $2 million dollars cash to not break the covenants.
If they have to sell before they get the permits they will get way less.
Vultures are circling.