alt, Tony's seeing it like the market will see it
AND has a full idea of the total sum of the projects
it all depends if the wishing and hoping related to the pipeline becomes more commercially visible ahead of any possible not so well perceived POC1 news
the share price did not exactly get bolstered from the BBI deal dying (vis continuing short to medium term commercial progress) by a large pipeline of "potential" deals
having said that, a 50% haircut might be a bit of a worst case ...
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