given what we are used to seeing, traders and those longs who...

given what we are used to seeing, traders and those longs who give their emotions a go, who exit hoping to get back in, maybe they take the quick profit. But you never know when the market just gets a kick in the pants, and someone decides this has the merrits to be valued today over the 100m club. Before the fireworks starts.

Its one of those gems, that will attract new positions for a longer term re-rate, but some who have held too long, will miss the bus if they try to be too cute with the trade.

I have no intention of selling this in the opening rumble of an awakening volcano.
This year, and next, the partnerships and trials will forward to commercial arrangements.
Why on earth would you leave the bus now ? when the rise from base 14c, has put just meager half bag onto the revaluation ?

20-30m mc => 200-500m-1B. IMO.
Its a question of what a market pays for either the commercial long term proposition of hold the IP with multiple commercial partners, or a takeover by a single predator.
Either way, more majors partnerships => confidence that one of those outcomes is in the wind.

Last weeks sellers at 20m mc, were fatigued longs. You need to be stronger and more resilient if you want to see the big money, not give away the small change.

When you understand value, you dont sweat on the volatility.