Personally I just hope that the announcement has enough detail...

Personally I just hope that the announcement has enough detail about forward projections (revenue/profit) in addition to the new structure/partnership, so that the re-rate is robust and substantial to reflect a fair NPV/MC of ARL (or the new company which the consortium parcel will fall under).

Speculative times should really be over, new investors should be enabled to invest in the company, with reasonable confidence about the underlying value . This will require a calm and factual announcement which hopefully includes plenty of relevant detail to facilitate a proper and sustainable re-rate.

Only real risk remaining is project risk, but given the make-up of the consortium this is relatively small IMO. Underlying commodity risk also exists of course but I also feel confident about the demand and price profile of Nickel over the next 5 -10 years.

So the final risk remaining for me specifically, is whether I stupidly take profit too early......!!