I've highlighted both the risks (downside) and potential (upside). I've shared my thesis: a rerate based on securing funding and indicative timeline. The timeline is 3-5 months from the time of the IDC announcement (11/7/23) where the bulk of time is allocated to Due Diligence. I'd expect the IDC process to be finalised within the next 2-4 weeks.
The longer it takes for the thesis to play out, the more often they will need to tap the market for a top-up. Whether the CR is to "mates" or not makes little difference to me.
WWI Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
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