Research Report, page-14

40c price target is realistic once we have begun production IMO. Not after acquisition of the gas project... thats delusional. QPM is by far my biggest holding, so this is coming from a bull. It could definitely have a FOMO run to these levels if FID is put together perfectly (ie shareholders are rewarded with minimal dilution) and shovels are in the ground on time, with a significantly improved DFS. So many things would need to go perfect for us to reach 40c in the near term, which is always a possibility but lets not get ahead of ourselves.