This slide says it all
Free cashflow of 49m assuming LCE price of 12k - Current LCE price is 59k or 4x this value
Ofcourse they go conservative, but in 2023 what will the price be given the Lithium supply deficit is in play till past 2025? I think it will be 59k or higher and reinforces the general valuations being thrown for in production companies - PLS/AKE to name a few. Anyone in production before supply catches up are going to make cash margins unheard of! simply cash cows...
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