Remember this report takes the long term copper price at US7500 per tonne or about $3.8/lb and estimates an $8 share on that. Today it's trading about $4/lb and what if the articles on copper shortages are spot on and we see a the copper price >$8/lb. Given this and the report holds true, I would assume at 50% nav a minimum of $16 a share. I say this partly due to my own wishful thinking (I WANA BE RICH) but also looking at what happened to the lithium price in a few short years.
dyor just my opinion not financial advice
$8 TP by June 2023 !! Research Report, page-41
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