I don't see what's so laughable. What is your CAPEX? Where are offtakes? Where is the funding? At very least to justify being the market cap of a half of a producing miner (PLS). You're only taking into account sovereign risk, which is something to certainly be accounted for. But keyword: ONLY.
If DFS comes back weak, market will correct itself. If DFS strong, I just don't see much upside (when compared to PLS).
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