RE:RE:Timeline is problematic
COMPLETELY AGREE....
This notion that they dont need to improve IR because of the imepiments like FN or HYDRO or ROAD is utterly WRONG.
Thats the EXACT reason you do need IR.
The market is a RISK PRICING mechanism. In the absense of clear information or specifically established expectations, event risk naturally gets priced higher than it should.
These guys have a GREAT story, with a very manageable and attractive risk reward mix.
But you HAVE to develop and tell the story conservatively and concisely over and over, and you then need to do your best to meet or exceed expectations. Underpromise and Overdeliver. Its a very simple but effective recipe to build trust amonst all forms of investors.
Ostrich / Hope / back of napkin approach will only get you so far. I am note remotely suggesting thats where this is at, I am sure they have done some great things with all the best intentions. But it can and should be way better. The opportunity cost is far to high to ignore.