karoshi, I'm guessing a bit as to the time line for cash flows...

karoshi, I'm guessing a bit as to the time line for cash flows to start appearing but it seems a reasonable time frame to me.
What I mean about someone with deep pockets is:
I invest in companies with a reasonable chance of going up over 10 times in price based on the assets they have, not on what they are going to create (there are hundreds of such fly by nighters listed that are traps for investors, in resources, industrial, biotech, tech, etc). The share prices often stay stagnant in these companies because they look a lot like the fly by nighters, who have really tried investors patience over time as well as costing them money.
The two ways for the share price to go up is for the promising company to put the runs on the board or to start ticking the boxes on a project, giving the market confidence. The other way, often at the same time, is for some larger investors to do their homework on the company and decide to buy between 5 and 20% and have the guts to sit on it till the value is realised. The latter is what has happened with RIV, which I started buying at 26 cents and is still nearly two years from production. Twice the share price spent 12 months stagnating but it was simply a buying opportunity as those with an eye on the share price performance as the sole measure of the success of the company headed for the exits.
You shouldn't think of instos and other larger investors as any smarter or more disciplined than the much smaller investors. The majority of them (especially instos with OPM addictions) are extremely fickle. One very well known insurance company with an addiction to other people's money has three times sold RIV only to pay over twice the price within 12 months to get back in. 3 times!!!! I remember the exact same fund doing the same with ARQ in the early days. They sold them around 30 cents AFTER the Hovea discovery which blind Freddy could tell you was worth 80 cents to the company and bought back in at 90 cents 12 months later.
Emerald's shares don't trade much and it won't take much interest from some bigger investors (smarter ones for preference) to put upward pressure on the share price.