In my original note flagged the performance risks as people...

In my original note flagged the performance risks as people can't assume success is a given. So a very exciting future needs to be tempered a little.

To FBR's credit (& frustration of shareholders) they spent a long time putting the learnings into next gen Hadrian X. Did not take the easy option of just making it bigger & faster. They totally modified the design of critical elements to make it simpler, more reliable and improved the laying performance. Similarly following its initial test build, they again have taken the last 3 months to complete more "tweets" to the design. Looking at the agreed contract conditions, clearly this effort is the shore up Hadrian X performance to exceed these targets in particular the laying speeds. As much as I would have loved them to have already shipped the next gen Hadrian X and having it in the US, assume the last 3 months improvement work will set up for success !

With any luck we find out the first Hadrian is in transit to US soon.

In terms of price when trading hold is removed, I would be really disappointed if it did not get above 10c. Just on the basis the market will be pricing in the potentially huge future upside with a realistic chance of success. Then discounting for the risks. To date with the current price of 2.7c, the market has not really been putting a premium on having solid deals in US. Now we have a plan and partnerships. Even when the next gen Hadrian X was commissioned, the price did not move a great deal.
Then a much more significant jump on the first option being taken.