2021 - General Discussion, page-4731

Fundamentally, there should be a lot of upward pressure on the share price once the agreement is announced because FYI is still trading below where it should be, with the DFS stage completed. The market cap ought to be around 30% of the NPV at DFS according to industry averages, and then higher again if there's a JV or offtake etc. Right now, FYI is trading at ~20% of the NPV (A$1353). Of course if the Alcoa agreement suggests there will be multiple factories, presumably the NPV will be even higher. If the SP didn't go up significantly on a positive JV ann and the news that followed, it would be substantially undervalued. I see a significant re-rate occurring on positive news.

All IMHO, DYOR