Ann: LAKE LITHIUM TO BE TESTED IN BATTERIES BY NOVONIX, page-137

Anything is possible @Vivo and also depends on what gets done within the next 9 to 12 months. 4 times will have a MC of $110m.
If following happens,
1. Hazen proves 99.9% or above purity - within a month, in September 2020
2. Novonix confirms and produces quality battery with Kachi samples - within 4 to 5 month, latest by end Jan 2021
3. LKE signs cornerstone investor for USD 10m to USD 15m for DFS and onsite pilot plant - within 4 months, latest by end Dec 2020
4. Signs one or two offtake partners - latest before end June 2021

Then I reckon LKE could even have a MC of $200m to $280m, which is 8 to 10 times. In my opinion all 4 four (above points) could happen in the next 12 months or less. LKE’s position in Lithium market is getting stronger day by day.