Yeah, the last few weeks have been confusing and difficult to...

Yeah, the last few weeks have been confusing and difficult to assess at times. The announcement, which was unclear and clumsily worded, was I think difficult for people to initially digest. One inherently knew that it potentially represented a great long term deal for FYI and also that the SP was stranded in way overvalued territory on the morning of release. A bitter taste in the short term.

The SP hovered in the $0.45-0.60 range for many months, during which Roly acquired that parcel you mentioned, before JV signing fever really took hold. Had the JV discussion exclusivity period, ultimately lasting 5 months, been painted as binding term sheet discussions in which FYI would relinquish 65% of the business, not see an incorporated JV for 2 years and commence with firing up the old pilot plant for a month, the SP would obviously not have made the ascent to $0.80+.

I see the proposed phased development schedule as a case of 1 step backwards (or sideways, lets say) followed by 2 steps forward. Hence, my sentiment will improve after positive FID for phase 2. I'm sure the SP recovery will be swift following successful product qualification, market outreach and commencement of demo plant construction - the enterprise just needs to build some positive momentum, German spare parts willing.