Exactly Trig,
You will only make money out of this stock by accepting for what it is. What you have described is spot on. I would actually be even a lot harsher than what you have written down.
If the Joint Venture is around then corner then expect another opportunity to trade.
3-4 weeks from Peter Landau mouth ... wonder what this translate to reality. Most likely 6-8 weeks to be conservative.
Good Luck to shareholders
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Currently unlisted public company.