I think the only way we will see a listing, and then maybe some incremental value (to be seen....), is if they can secure at least one off-take agreement to de-risk longer term and help with the ability to secure project funding. I can't see them doing anything without that and that's my concern in terms of timing from here.
If you're interested, I have the perfect example to compare how different things can be for a company on the journey from pre-IPO to IPO; I also invested in FEG (seed and a later raising) pre-IPO at literally the same time as VHM. If you're not aware of FEG yet go and have a look at how they manage communications, planning and value accretion. Please note that this is not investment advice or intentional cross promotion in any way but just to show how things 'can' be done with the right people at the helm.........if only I had spent all my VHM $$$ on FEG only!!
