Given the regulatory green lights, Delfin’s ownership structure, and sector precedents, a reverse merger with TGLO is highly likely to coincide with FID.
The upside analysis is fantastic! How about the downside? TGLO’s valuation is based on RM speculation and Delfin currently has over $100 million of valuation in TGLO. If Delfin decided not to RM, what can it do to preserve TGLO’s valuation? What indicator should we be looking for?
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