Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-111

Thanks, @bullrush90.

Here's an even earlier post of mine from 1 year ago at 1.9c: https://hotcopper.com.au/threads/key-upcoming-milestones-price-target.5547269/

1 year on from that original post and boxes continue to be ticked at a remarkable pace. Reflecting backward on the PM1/QPM share price journey -- milestones #1, #2, and #3 have been achieved. The company is firmly on track to continue hitting performance targets #4, #5, #6, and #7 (see the original HC post RE numbering).

The most significant update since my original HC post at 1.9 cents is that the NPV of the project is now more likely to fall in the A$2.5b to A$3b range, with the project size increased 2.5x (due to unprecedented demand) since this post a year ago. This drastically increases the share price upside on offer.

Still many bags left in this journey with the company at a circa $250m MC as of today and the EV/NPV ratio still sub 10%. With the spotlight firmly on the EV metals sector there is even a possibility that the market cap could exceed project NPV (i.e. as is the case with CXO). Right industry. Right time. Right management.

With ongoing progress by a superb management team, the investment risk (project/technical/financing) continues to decrease and the share price continues to climb in proportion to this reduction in risk.

I'm holding tightly; this one is truly a gem. Multibaggers like this can change a life.

T.E.P.