Southdown Project

It has been five years since the initial feasibility study for the Southdown was published. At the time, GRR estimated $2.885B to develop the project. That could easily be $4-5B today.

GRR claims to still be 'seeking partners for a strategic share of the Company's interest in the project', but has failed to attract anyone in five years. With a share price that rarely exceeds cash backing and a current market cap of <$200MM, any attempt to raise equity would massively dilute existing investors. And despite the healthy cash balance, GRR would wreck their balance sheet by taking on debt to fund the project.

How can this minnow ever realistically implement the Southdown project? Has GRR ever considered selling the project in its entirety and returning the proceeds to shareholders?