Errrr. No. Let me clarify. Merle look at free carry so sell...

Errrr. No. Let me clarify.
Merle look at free carry so sell some.

but merle has taken risk. When de-risked it is genuinely worth more.

A new buyer has to see value at say 5c as he she sees a low risk ride to 12months pe10 to 28c

same buyer at 5c might free carry at 10c when further de risked with say mining license.

Each step of de-risking carries own reward and upside for new buyer.

just using those prices as example. Market will decide how much each level us truly rewarded.