Jan. 28 at 9:41 PM
A ~
$150M valuation for a pre‑permit, pre‑financing, pre‑construction asset is not conservative. It is the market assigning
$GRO a speculative placeholder based on a potential growth story that might exist someday, not on fundamentals or real progress.
That means any negative surprise, whether it is financing terms, delays, or political friction, hits shareholders twice:
• once through the share price
• again through the dilution required to keep the project alive