Just breaking down the last two sections of the quoted blurb...

Just breaking down the last two sections of the quoted blurb from my immediately preceeding post. The underlined words can be further considered in ARL's situation:

"Once a clear understanding of the technical risks has been established, a range of financial valuations can proceed. It is not uncommon that a technical valuation is reported within the due diligence framework but is not essential.

Very often, a full due diligence framework incorporates legal, financial and technical aspects and the financial valuations at Fair Market Value are done by the financial team on supply of the production profiles from the technical specialist.This then aids in developing negotiating strategy and pricing of the deal (Rosenbloom, 2002)."

1. A range of financial valuations: Okay, so different methods used will churn out different values. We get that.
2. Legal aspects: Don't see any impediments in this area. WA is a mining friendly state. All clear to proceed.
3. Financial aspects: Funding conditional on lowering the PFS' 25% margin of error in the P&L/Cashflow forecast down closer to the DFS' 15% margin of error, so as to reduce downside financial surprises/risks to the mine development capital budget. Likely to involve a range of connected economic forecasts such as Ni/Co prices, Li demand/supply, EV demand/supply, steel demand/supply, etc., and finalising the quotes from the shortlisted/contracted engineers. I would say that it is almost completed, based on the last quarter's report and recent AP pressos.
4. Technical aspects: Completed. The JC didn't walk away but stayed on and progressed to the full DD.
5. Financial valuation at fair market value:This is the announcement that will move the sp.
6. Negotiating strategy: Underway or nearing completion? Based on AP's upbeat tone in his last presso, probably a satisfactory compromise is reached already. Just need the eagle-eyed lawyers to review the binding contracts and nitpick on details.
7. Pricing of the deal: Related to (5) above. This is the announcement to explain how many ARL shares will be issued to the JC.

Patience... deep slow breaths... stay away from HC for a while...