Some key points to consider
The valuation for IPO is not based on Phase 1 generating $1m or breaking even in the short term.
Phase 1 = proof of concept.
After performing various due diligences based on record not available to the general public,
- MGE invested an equivalent of +$5 share
- DFC and Standard Bank provided $750m funding
The requirement to unlock DFC funding and Standard bank loan
- Nasdaq IPO (see below) and other conditions
The focus and end goal is Phase 2 and getting there ASAP. Time is money as we have all seen with the delays
Renergen has now achieved all the milestones to proceed with the IPO and then start Phase 2
IPO valuation based on precedent set by MGE transaction / other transactions valuing helium reserves
Renergen General Discussion, page-3218
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