Ann: 30 September 2017 Quarterly Report, page-34

I wish there's more info on that mining license issue. If BNR can wrestle the project back, its market cap can easily reach $20m in a day.
Either way, BNR is in the driving seat here. GEM is trying to raise fund through IPO (as Coolgardie Minerals Ltd), but with a cloud over the ownership of their crown jewel project, they will have trouble attracting institution participants; so it's in their best interest to resolve this issue expediently.
Personally I prefer if both parties can reach an amicable settlement sooner rather than later, but chances are, either way BNR will come out ahead.