I do expect dilution. However, I do agree with you that Wade and Company will do their best to inflate the price before the listing via PR and by waiting for some of the other positive catalysts on your list to materialize. Surely, they want the most bang for the new shares, and here their interests coincide with those of current investors. However, when they do issue new shares, they will do so at some discount to currently traded shares. Otherwise, why would anyone buy new shares as opposed to shares on other exchanges?
Lastly, I do see some opportunity for arbitrage due to exchange frictions inherent to $MAUXF and $MMT.v. In the long run, I fully agree with you (and your reasons listed) that London-listed shares will be seen as "premium" shares.
As an example, consider what happened to Sundance shares once final plans for $SNDE materialized. If it weren't for the takeover speculation, $SEA.ax and $SDCJF would still be depressed, even though we have known about the US listing for quite some time.
P.S. For me, the London listing carries one powerful message: Wade want more capital to invest and he wants via fairly reputable channels. I see that as a powerful positive, but I also feel that is baked into the share price today.
