So Ya, based on your calc, if HS1 is successful, Heron value goes from 23c to $1.17 and new valuation is 54c - 23c + $1.17 = $1.38. That's a 5+ bagger based on HS1 result only isn't it?
MKT The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint