My current target price for end 2021 based on reaching a 4,000tpa cobalt production target and selling @ USD 35/lb is AUD 5.18 or 5x higher. This increases to AUD 6.59 or 6.3x higher if they make it to become a 5,000tpa producer. If we use current spot prices then respective target prices are closer to AUD 7 and AUD 9. Clearly at AUD 9 there is a ~9 fold gain on current prices.
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