4 year price target...11 to 15 bagger, page-27

Remember, also, that there are other promising deposits, such as the niobium-tantalum region north of Ngualla, that have not yet been drilled out and examined for viability. Management is keeping a tight focus on the main rare earth play; I fully expect that, if/when it's producing and selling, they will be using that profit to do exactly that.

The short term goal is Ngualla. Long term is much bigger than that. But, in fairness, it isn't worth pricing that possibility in until we know that there will be revenue to do it.

So in short, as long as the Ngualla rare earth region starts producing profit, the long term valuation should - should! - exceed that on Ngualla alone. Still a highly speculative play at this stage, though (although less so than a pure explorer.)