This is a rational perspective that I agree with. You won't have to wait until 2025 to start seeing large returns though. There are many catalysts over the next 0-18 months that will result in BSX moving closer to it being valued on actual projected cash flows. At $600M of free cash flow between the UBU and DBU this company can easily be valued at $6B 1+ years out from production (i.e. within the next 2-3 years). While it won't be a linear trajectory to realizing that valuation, it also won't be a single 1,000% move either. Partnerships, economic studies, FID/financing, offtake, etc will all act as incremental catalysts to moving towards that upside. I originally got into BSX in 2020 and have added on each pullback (mid $0.30s in late 2020 and mid 2021), and added again yesterday at $0.53, $0.50, and $0.49. I'm a strong believer that a long term and patient approach is always the best. Put the emotions aside and stay grounded in fundamental analysis. Finally, I'll add that a large part of my process is reading the institutional "tea leaves" and at BSX, they couldn't be more positive seeing the follow through from Fidelity and German investors (i.e. Sparta, Delphi, etc.) at $0.58 in the private placement late last year. You better believe they fully understood these timelines, and they were very happy to significant increase their positions at $0.58.
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