NXR WBT Merger, page-28

Where are you chaps getting your CR prices estimates from? 10 - 20c must be about the best we can hope for. What's more important is not too many of them. $2? That will be a task among your average Sophs, they'll be wanting stag profits a few months later. If they raise at 10c there will be plenty for sale on market after re-listing meaning any sophs could top up. I reckon that's more likely, but I wouldn't be surprised if they raise much lower than that. If the test are announced to be successful, but not hyped in that announcement, expect a low raising price followed by another announcement painting a much better picture.

The difference might be if the test results are so good nothing other than miniturisation and production is needed. That may well bring on big players which would change the game entirely. It's impossible to get excited about that given the last 18 months though.