RE:I am long on THCX ! .....but look-The problem with your thesis is when you say:
"Once THCX starts making me a decent return I will put a ring on it. Until then I will keep a small position and reassess monthly."
in a matter of a few days you could miss the pop.
It could come in light of news, in the form of another LOI, with ontario, or aquistion plans with that $150mn, or maybe a hostile take over by another LP, etc.