Given the current general market conditions this may take a while before it re-rates (certainly longer than I initially anticipated). That said, short of a take-over in the ST, patient shareholders will be rewarded.
If Bunawan disappoints you will see a major sell off as there will have been a lot of punters who have bought this company for the potential of another Co-O and have never paid attention to nor understood the value of Mabilo. If that happens it will just further delay the re-rating.
It has been painful, and depending on Bunawan it could continue to be painful but I am firmly of the belief that patience will be rewarded.
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