Phase 1 completed on May 5th so about 40 days in so far including moving kit to new area. I'd guess another couple of months to complete then however long to process.
In the absence of a capital raise then the only way for an II to get on board is buying on the open market. Who knows how many hold positions that are below a notifiable amount?
I think it was BladeOIM who posted this several days ago. The whole video is worth a watch but from about 25 minutes in he explains how the COS is calculated from 6 variables. Even if you are 75% certain on all 6 you still only have a COS of about 18%.
https://www.youtube.com/watch?v=TeXpxXMsC-k