For a block that won't even grant a rocket launchpad permit, I'd say this timeline is probably optimistic. If we look at how other permit processes have worked within our industry, it will be at least 10-15 years before we can actually begin mining and deliver raw materials to the market.
it is important to check that the stuff is really there, what grade in which place, how to design the mine so that it hits all the high grade places but doesn't collapse and machinery can get in, if it can be extracted without risks to outsiders, how to process it, where to get power, water, how to transport stuff there and back, what will be waste products, what to do with those, how much can be recycled, etc. Preliminary feasibility study & definitive feasibility study.
All this "studying" costs real money (as it involves drilling, chemistry experiments and so on) that needs to be raised first, too