China increasing pressure on illegal REE activities, page-3

I am a long time reader of this board, and a long time holder of Alkane. I'm finally in the green after dollar cost averaging down over the past 2 years. I'm a believer in this company, and I appreciate very much the information that has been shared on this board over the years. I have a couple of question about the Petra report and I'm wondering if any of you can help me understand this report better.

What is the time frame of their price target of $2.21? Do they mean now, or once the financing is in place, or when Alkane is producing and selling product at a profit? I assume it's probably the latter, but I just want to hear someone else's take on it.

Also, the report speaks of a rerate, but they don't specify when, based on the achievement of what milestones, or what price that rerate might adjust to. I guess final NSW government approval, getting the financing, and getting into production are the primary rerating milestones that get Alkane to $2.21, so it's a stair step to that point. Or do Petra think Alkane can get to $2.21 before production, based on the market's perception that Alkane, maybe once financed, should be valued at $2.21 because of their "potential" to make the profits Petra calculated? The market is supposed to be future oriented, but what get's Alkane to that $2.21 valuation, actual profits, or potential profits close to realization?

Any thoughts from this learned board would be appreciated.