if the funding negotiations are in the hands of counter parties and subject to the speed at which they occur then the demerger of the water business may not be a priority. if the demerger is critical then notice to the shareholders would have already occurred to ensure everything is setup for future funding requirements of a Sunrise entity only. Sam did say "Counter Parties" - more than one party interested in the project.
Could a future partner want the water business technology to help offset any funding expenses or align it to their corporate strategy. If a car manufacturer was after the battery metals then I don't see the merits of why they would want a water business. But in the case of a battery manufacturer then synergies with water treatment technologies for metal recovery / treatment of waste streams then keeping the business together could have benefits for future partners.
Finally, the late rally in the share price was a promising sign of things turning around in a very short time could be a reality. I still believe a share price of $3.50-$4.00 is a more accurate reflection of the business valuation in the short term.
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