Agreed, the industry will wait to see the output of someone...

Agreed, the industry will wait to see the output of someone else's money and work - i.e. further iBC contracts will likely happen AFTER this FS proves satisfactory.

The interim uplifts could come from aMES, although thay hasn't been signalled as strongly or, more likely, improving quarterlies. The latter make future CRs unlikely and therefore will create slow SP appreciation (IMO) as the chances of getting in cheaper diminish.

I think a point to note is negotiations for this started at the end of 2020 and it seems the deal was signed as rhe counter party wanted to move quickly... These are the timeframes we are to expect, as you have rightly pointed out here.

As they say it takes 10-20 years to create an overnight success. I own other stocks which have appreciated nicely in short order, however the potential was long signalled whilst the share price flatlined (at best). That said, you never know which "night" will be the turning point and which rally will leave behind never to be seen again lows.

All IMO, please DYOR and GLTAH