Ann: IMARC Investor Presentation, page-8

the only puzzling factor here is how long the gap between the ASX share market price and the fundamental value, as analysed by several brokers, can be sustained
Mt Carbine itself, according to a 2 year old BFS, has a NPV of c $310M - then on top of that they have Saloro, (with who knows, another $150M) and then they have Wolfram Camp with a JORC of 49.3mt at 0.14%

And we are trading at a market cap of $107M !

In share price terms thats 4.9 cents versus broker valuations of about 15 cents

The market WILL close the gap, but when ? and what will be the catalyst/s ?

A few VERY realistic catalysts out there are;

china cuts export quotas of tungsten
rapidly increasing APT price when broader market starts to get FOMO
Qld/Aust Govt grants - indications already out there following IMARC and alluded to by Albo
US Govt Dept of Defense grants - we are a USA domestic source and therefore qualify
European Govt grants due to our success at turning Saloro around