I think the fact that the last Proactive Investors vid focussed...

I think the fact that the last Proactive Investors vid focussed solely on SN with no mention of Mallee Bull - and also that it was mentioned therein that SN is 100% owned by PEX, which makes it easy to make development decisions.....it's a huge pointer to what is really going on.

RT obviously overdoing it now carrying in about the purchase of the NSR. He must have seen / heard a bit of criticism about it and something in his personality can't abide it.

By carrying on down the road of steadfastly maintaining that a Mallee Bull PFS would materialise, they have now made it an issue. I agree that being upfront about any 'roadblock' coming from the JV partner would have extracted some heat from this situation. At the least they should have said much earlier that the focus would be fully on SN with Mallee Bull firmly on the back-burner, and at the same time said that SN would not be JV'd.

Maybe the PFS will still turn up, in which case the above will become irrelevant. But this has become an issue of credibility. 'The market' / shareholders don't like missed deadlines and a lack of clarity.