think on the Bkt reseatxh there is Macquarie blue ocean and MST estimates around this. like you the figures I have been getting aren't stacking up vs risk unless graphite does a
lithiumesque move in pricing then it's a different story. originally at around this price 3-4 years ago when posco first bought in this looked like a 25bagger minimum but in time with the delays the extra capital raises the change in strategy inflation , price if debt and little movement in the graphite price this looks a Disallowed max to me. plenty of dilution good for posco and management not so shareholders . mine fully operating in 10 years the Big Mac bank thinks. JDV would be a genius if as promised the delays have been due to maximising shareholder wealth. let's wait and see ... how long first and then the outcome . Good luck to the the BKT family as always
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