Fair value of this $ASN, page-13

at some point in the near-ish future, ASN will be approved for a US govt DoE loan for around 350m USD (525m AUD) and that's when things get real, they'll need to then find around 200m AUD for their portion of CAPEX, probably 50-100m will be through a strategic invest by an offtake partner and then rest will be a CR probably to insto's, at that point ASN will have completed the FEED, probably the permitting and will be ready to make FID to build a 750m AUD lithum processing facility which will have a base case IRR of 47%
there are no garentees but all of that is probably going happen before this time next year, so i don't think ASN is overvalued at all, if anything compared to others its massively undervalued given the level of risk is being reduced all the time