What is CODA's $MC worth alone ?, page-22

Easy to throw out numbers like 1billion tonnes and hundreds of millions of market cap but there is A LOT of water to go under the bridge before that point.

The historic CODA grades are good. Let's say they come through with some initial assays from their upcoming drilling where the grades continue and then not long after come out with ph4 ambient temp 30min met tests with good recoveries, the market cap may move to 40 to 50mil fully diluted and then slowly move up as they announce further drill results and expand the resource. My basis for this is VMM as a peer comparison which is around 125m fully diluted (roughly)

Even with such a short term view I've made two assumptions here, one that the grades continue across their land holding and two that the met work is positive, which is a significant hurdle.