Unfortunately you just don’t know with this mob. Easy to assume nothing has happened but harder to assume it’s underway but negative always out trumps the positive with lack of news flow. An update of sorts would be appreciated. I have said it before that the market just wants to know what is going on no matter good or not so good. We all feel better when we know more. If phase 3 has not started let us know and why. Has phase 2 update started, on track, completed? Reasonable delays are typically accepted well enough given acceptable reasons. Delays, difficulties, or simply amaze us that things are tracking as per the plan even if we don’t actually know all the plan, haha.
The void of information does no one any good and only fules assumptions normally negative ones.
Speak up IOR or further damage the brand through silence. Some will say it’s already too late and many have already gotten out, some to watch others never to return I am sure.