Maybe mathematics can help answer that with the following scenario...
Remember the slide on pg 8? PLS has 6.97 MT of contained Lithium, and VUL has 16.19MT of contained lithium. (2.3x larger amount of contained lithium than PLS)
PLS hit an all time high of $1.25 in Dec 2017 with 1.645B shares on issue at the time equating to a $2b m/c at the time
If VUL was valued as aggressively as what PLS was valued at back in early 2018 and if you take the 2.3x larger amount of contained lithium and apply it to a hypothetical valuation it give's a m/c of $4.7b to VUL. or approx 30x current price.
Remember these are purely back of the envelope calculations using PLS as a historical pricing example. But the question is what value does the market give a lithium project with zero carbon lithium especially when the world is demanding this kind of stuff??
IMO a lot more than $160m....
Ultimately the market will value it at whatever the market wants to value it at....
DYOR
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