Great Wall & BMW, page-31

GBG, my numbers, verified by others I know, suggest this make $1b ebitda per annum at the 5mtpa stage 2 production, which is targetted within 3 years. So, at that level of potential and probable cashflow, factoring in all the risks, but also with consideration to all the positives which surround this Industry and this company, I can actually foresee a $2b market cap pre production. Especially as PLS enters the 200 club!! Someone mentioned FMG hit a $6b market cap pre production, so it does happen.

And consider also that underpinning the market cap, in this instance, is not only future cashflow, but a hard asset, which, when you do the sums, gives you a pretty undemanding $ amount per ton of resource, functional upon how big your view of that is!

So, for me, $2b as we enter the ASX200 and $10b+ when in full swing within 3 years, with the thought that the way things are looking lithium prices could drive far higher plus downstream opportunities could also add fuel to that fire.