I used to think that the ASX couldn't reach 300m without recurring cashflow - VLA proved it can but couldn't sustain that level and is tracking a 200-300m range.
If VLA hit the mark they will be bought for something closer to 1b. PYC will be both harder and easier to buy if they get to that stage by virtue of the concentrated ownership. If the FPP program is as good as I hope then each application could be worth 500-1b . . .
Till then it looks like 85m . . .
Selling at 4.1, page-7
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