CNR IPO a 5 bagger, page-10

The ASX has many rules to protect retail investors that an IPO must comply with.
Rox has published scoping studies of Fisher East from 2017.
In the meantime, the price of nickel has increased and mines have become more expensive.
So Rox and the ASX do not consider that the Fisher scoping study is accurate.
But is it a guide to investing in Cannon?
Absolutely!
The risky part of scoping studies is the price of the commodity, whereas mine costs can vary commodity prices can be very volatile. .
We know that nickel demand has an assured future until at least 2030.
From 2020 to 2030, overall nickel demand will grow at 5% compound annual growth rate, and that nickel-in-battery demand will grow at a rate of 21% CAGR,” BHP Nickel West president Eddy Haegel told the annual Diggers and Dealers conference on Tuesday.
Demand will grown significantly and the demand is for clean green WA nickel rather than cheap Indonesian pig nickel.
Cannon's Fisher has 2.9 MT @ 1.7% Ni JORC complaint high grade resource. The next drilling campaign commencing in Q4 will very likely grow this by 30- 50% by drilling deep below the existing pits and between the pits.
After that Cannon will generate a new up to date scoping study that is likely to demonstrate a net cash flow of well over $200m for the concentrator approach and over $150m for toll mining.
Keep in mind that CNR is valued at $15m
A 5 bagger puts its MC at $75m.
The battery metal space is red hot, even juniors that have never found a gram of high grade nickel have become multi baggers.
Cannon has both highly prospective tenements and a ready to go high grade resource.
Peer review on the way.