PFS due for completion this quarter, page-11

Looking (hoping) at how the market will react to a positive PFS by E25, I keep turning to Andromeda Metals Ltd (ADN).

ADN is in a JV to earn 75% of a Halloysite-Kaolin project in South Australia.

Last year they released a scoping study (not a PFS) with some incredible numbers:
NPV: $413M
IRR: 174%
CAPEX $13M
LIFE OF MINE: 15 Years at 500,000 tpa

So, a low CAPEX, low impact mining, cash generation business with upside from developing a high purity alumina (HPA) product.

Starting to sound familiar?

Prior to the release of the scoping study, ADN was trading at 0.6c (yes, point 6 of a cent)
It had 1.4B shares on issue or mkt cap of $9M
It moved a little to 1c or mc of $14M

(even more familiar)

Then came the Scoping study and the stock ran to as high as 10c intra day.
MC of $140M
The share price has since settled and become less volatile and 5cps or a MC of $70M

So now we wait for E25's PFS and see how the market reacts (depending on what numbers we see)

MC was approx $9M in early April.
It has moved to $18M today.
Western Australia
100% owned
Low Capex
Simple mining method
Upside from an EMM business to be developed from cash flow.

Even a market cap of $40M will see a doubling of the share price which would be nice.
$70M like ADN puts us at 70cps.

All in my opinion and Kaolin has nothing to do with Manganese and different management etc etc etc but I'm just looking around to see where the share price might settle post PFS.

And I doubt it will be 25c.