Yes but its a formality that matters. The market is not likely to respond based on conclusions that "one would think" had happened or "ought to be imminent". What we need is an announcement that says "We have completed the optimisation step. We have signed off on the production process. We have chips that play outside the clean room on a demo device. We have performance specs ready to publish. We have demos arranged with X companies within the next few weeks." That announcement is one the market will undoubtedly respond to in very tangible ways. That de-risks the company hugely.
I had hoped that would happen before the end of September. With a second full-scale lockdown happening in the region where the company is based, and where all of its immediate vendors are based, is going to defer that announcement I suspect. Instead we may get a different announcement on the eve of lockdown, that is more of a progress report - and I certainly hope we do get some update. But it will take the pressure off the company to deliver the previously announced likelihood of completion. That could be for good or bad. Or it could just be business as usual with the SP trucking along within the same narrow range.
What LTH need to recognise however is to not allow themselves to succumb to "patience fatigue" - the sense of having waited for a wish to be fulfilled that keeps promising to be imminent but just drags on and on. It just saps your enthusiasm and optimism, and that could lead to people acting irrationally. We are so close now!
(20min delay)