For a such a small company which estimates it will have revenue beginning 2 years of US$2.2 BILLION over the life of the project, and will have NPV of US$502m, AND PAYBACK in 2.4years ---> then an MC of only A$47m is still very, very, very cheap !!! (IMHO)
And remember - IXR stated that the life of the project is actually open-ended!
It's not a mine will a limited resource.
It is an industrial project.
They can just keep adding/expanding or renewing the processing equipment.
They can keep sourcing the feedstock from all around the world, with wind turbines having a finite life of about 15 yrs.
The of course, IXR has the almost open-ended opportunity of global expansion.
Once Belfast is up and running - or even under construction - other countries will demand like-minded IXR recycling projects.
No major Western country will be game enough to need to rely on exports from China.
And the beauty of the IXR business model, is that IXR probably will not need to fund these projects.
IXR will be able to project manage, licence its IP, provide expert management - and simply earn its income from a Toll model.
A$47m now will surely turn out to be a bargain ???
I forgot to add that those numbers may be conservative if REE prices go up
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