Good to see you're in this one too, I invested in the first Birchal campaign.
The biggest question mark I have over this company is it's ability to source the camels to scale up production in a reasonably quick time-scale.
As for export markets, GED shouldn't be a one trick pony re China. Already an established market in the ME, China will just be sold at a hefty premium but if they can hit the targeted production costs it shouldn't be needed to provide a decent return for shareholders. I can't see Camel milk being on the Daigou product list so getting all the licenses required to sell into China will take a long time for infant formula. I wouldn't factor in infant formula into China until at least FY25
Depending on the production progress I'd be looking at a 25c IPO listing price, guesswork where it goes post listing. Hopefully they won't need to do a pre IPO capital raising before listing.
